Personnel Administration Division has recently - Corporation ...

Officers’ Voice, July 2017 1

EditorEkanath Baliga

Asso. EditorG. Raghuraman

Satish Shetty

MembersH.S. Vishwanath

Advisor T.R. Bhat

Printed by:M. Rajesh Dange

Codeword Process & PrintersFalnir, Mangalore - 575 001

Licensed to Post Under License MNG/128/2015-17

& SK/MNG/WPP/7

Edited and Published byEkanath Baliga

on behalf of the Owners : Corporation Bank Officers’

Organisation (Regd.)106, Lobo Prabhu Court

Light House Hill Road, Mangalore - 575 001

EditorEkanath Baliga

Asso. EditorSatish Shetty

MembersH.S. Vishwanath

K.B. PrasadY. Sudhindra

Printed by:M. Rajesh Dange

Codeword Process & PrintersFalnir, Mangalore - 575 001

Edited and Published byEkanath Baliga

on behalf of the Owners : Corporation Bank Officers’

Organisation (Regd.)106, Lobo Prabhu Court

Light House Hill Road, Mangalore - 575 001 e-mail: [email protected] Visit us @ our website:www.cboo.org

Founder Editor : Sri T.R. Bhat

Registered with RNI, Delhi Regn. No. KARENG/2005/14831

Licensed to Post Under License MNG/128/2015-17 & SK/MNG/WPP/7

Personnel Administration Division has recently communicated branch-wise revised manpower

sanction to the Zonal Offices. Thumb-rule applied

appears to be fixing the results of Manpower

Assessment to a summary reduction of 1-2

officer/s and 1-2 clerk/s for most of the branches.

Net result of the total assessment is reported as a

“SURPLUS” of around 200-250 officers!

The intriguing part of the entire exercise has been

unilateralist approach by PAD; neither branches

had an opportunity to be heard nor did the Zonal/

Circle Offices had the opportunity to be consulted

beforehand. In the past, the branches used to

be directed to submit details of assessment in a

structured format based upon the branch business

growth and mix, clientele base, future business

prospects and other branch specific needs.

Manpower was assessed based on these details

received from the branches. Such a practice has

been given a go bye.

The present assessment appears to be an

extension of the earlier assessment brand-named

as ‘Sankalp' (a word totally forgotten presently)

wherein a system generated surplus was arrived

at, to declare a surplus of more than 700 officers.

The buzz word then was every zone – except 2 or 3

in the Bank had surplus!

The questions that arise are:

1. Whether this is a cover up action for not recruiting

DRPOs this year and also not promoting from

clerical to officers’ grade?

2. Whether the theoretical “SURPLUS” shall not

have any cascading effect on the branch level

sufferings due to shortage of clerks as well as

officers?

Surplus supervisory force is a mirage in the Bank:

a. Even today, there is a substantial number of

single officer branches. Bank has persistently

failed to honour its words to provide second

officer after the branches reach the Board

approved business figure of Rs. 5 crore.

b. Bank does not have a structured plan to

provide additional manpower with the growth

of business in a particular branch as a support

to further growth or to recognize the good

performance of a BM.

c. Bank does not have a well - defined manpower

structure for branches as per the category and

421 Vol 36 - 1 July, 2017

Officers’ Voice, July 2017 2Officers’ Voice, July 2017 2

OV

Page No.

CBOO News ................................................... 3

Achievements ................................................. 10

AIBOC News ................................................. 11

Banking Round Up ........................................ 15

Class Room ................................................... 21

Retirements .................................................... 22

Miscellany ..................................................... 27

Circular Round Up ........................................ 32

Health Watch ................................................. 36

In Lighter Vein ............................................... 40

C O N T E N T S

One who dares to waste an hour of life has not discovered the value of life - S Chander

scale of the Branch Manager (as a result, an AGM or CM headed branch will have Scale 1 officers only and many a times – probationers).

d. Replacement of retirees, resignees and promotees is an option and not an administrative compliance.

e. Controls at controlling offices have substantially been diluted due to multiple multi-tasking by officers in Zonal and Circle Offices.

f. Regular needs of Finacle branches (minimum to) to tide over work pressure operational snags and systemic hassles appear to be not reckoned.

A realistic Manpower Assessment must take cognizance of:

l Business of the branch, prospects for growth, vouchers, number and types of accounts, borrowal accounts, foot falls, cash inflow, movement, procurement and specialised business areas – tax collection, insurance etc.,

l Volume of NPAs, types of such accounts and requirements of follow-up and recovery of loans.

l Number of ATMs, total card population of branches in the area, Kiosks and work related with new delivery channels.

l Average emails received by the branch, time required to act, reply and delete thereafter and also the average number of telephone calls inward and outward.

l Leave requirements of officers; deputation requirements within the Zone.

l Minimum staff complement of each category of branches and basic supervisory needs of controlling offices.

Most importantly, any realistic assessment shall not be fixed in advance to generate a surplus. The neglect of manpower assessment

by successive top managements during the past decade has led to the present position of rising number of frauds at branches, a weakened and statistically oriented inspection mechanism, increasing small NPA accounts for lack of follow up, lack of experienced personnel to manage branches and offices etc. It had a telling effect on the growth of human resources and business of the Bank. Present exercise only reflects a neglect towards the long term vision on the human resources development and future growth. There is an urgent need to revisit the present exercise keeping in mind the future of this great institution.

There is no second place with surplus manpower in Bank. The present approach reflects the attitude, “We have already bought a shoe; now

have to fit it to the feet, if necessary, by trimming

the feet – even at the cost of bleeding!!”


CBOO News

BRANCH VISITS

THIRUVANANTHAPURAM

1. Ekanath Baliga, President, T C Joseph, Zonal Chairman, Sabumon, Deputy Zonal Secretary, Sandeep T V and Sharima S, Area Secretaries visited Varkala, Chemmaruthy, Kallambalam, Attingal, Trivandrum Techno Park, Ulloor and Marappalam branches on 22nd May.

2. Satish Shetty, General Secretary, K D Baburajan, Zonal Secretary, Prashanth Y, Deputy Zonal Secretary, Sujatha Samuel, Zonal Lady Secretary and L K Gopan, Area Secretary visited Nedumangad, Neyyattinkara, Pappanamcode, Vellayambalam, Trivandrum – Service and Main.

3. Both the teams visited Zonal Office at the end.

Members raised the following issues:

a. Problems faced by Finacle branches like frequent disruption of connectivity, delay in rendering routine service to the customers, inability in opening accounts and consequential loss of business opportunity, difficulty in arriving at overdues and consequent increase in NPAs, problems in deposit opening, closing, difficulties in report generation and other operational issues.

b. Need for additional PC with higher speed and

capacity for CERSAI, RR, Income Tax related works etc. at Branches.

c. Need of one more officer at Ulloor, Techno Park and Trivandrum – Main.

d. Need of sub-staff at Attingal, Chemmaruthi.

e. Need for renovation/air-conditioning of Varkala.

The team also had discussions with Zonal Head and Deputy Zonal Head. Problems of the branches were briefed to them. Zonal Office would look into these issues, it was informed.

MEERUT

1. On 12th June, Ekanath Baliga, President, Awadesh Choudhary Circle Secretary and Amit Yadav, Zonal Secretary visited Shamli, Chunasa, Budhana, Sardhana and Khatauli Branches.

2. Satish Shetty, General Secretary, Anil Kumar Pahwa, Vice-President and Archna Bisht, Zonal Lady Representative visited Nalpur, Shashtri Nagar, Pachpeda, Meerut – Ganganagar, Saket and Main.

Following observations were made by the members:

a. Urgent need for renovation of Shamli and Chunasa branches with AC along with installation of CDM & Pass Book Printer Kiosk.

b. Need for another officer at Sardhana, Shastrinagar, Meerut - Ganganagar and Pachpeda (branches with substantial business).

c. Need for providing necessary software support to the visually impaired officer at Khatauli.

d. Need to relocate Nalpur Branch from isolated premises inside educational institution (without proper space, AC and basic amenities).

e. Difficulties faced by Meerut – Main branch due to frequent deputation to needy branches and consequent disruptions.

3. At evening, both teams visited Zonal Office and discussed all the issues and problems faced by the branches with the Deputy Zonal Head and AGM, Mr. Sanjay Manocha (in the presence of designated future incumbent Sri G P Mishra) who assured to look into and resolve the issues at earliest.

- Amit Yadav, Zonal Secretary

Your aspirations are your possibilities - Samuel Johnson

OffiCerS’ VOiCe – SPARKlINg YoUNg AT 36

With the publication of the current issue (421st), oV enters its 36th year of uninterrupted publication. At this juncture, we thank our members, readers and patrons for their support, advice and suggestions in making oV reader oriented. We also thank our former Editors and the Editorial Teams who had persevered for a distinct standard for this publication – a niche in trade union movement. let our officers’ voices be heard forever through OV.

We also invite our members to contribute to the ‘Voice’ articles, poems and cartoons (in English).

- Editor


HYDERABAD

President, Ekanath Baliga, Zonal Chairman, K V Ramakrishna, Zonal Secretary, M S Praspanna, Deputy Zonal Secretary, P K Ramesh and Zonal Lady Secretary, G Bhavani visited Miriyalguda and Huzurnagar branches on 5th June. Members pointed out the following problems:

a. ATM at Miriyalguda is non- functional for long despite follow-up.

b. Need for an additional officer at Miriyalguda.

Functionaries promised to pursue the issues.

- M S Prapanna, Zonal Secretary

ZoNAl CoMMITTEE MEETINg

HYDERABAD

A meeting of the Zonal Committee was held on 4th June at Zonal Office, Hyderabad. President Ekanath Baliga was present. The meeting was presided over by K V Ramakrishna, Zonal Chairman. All Zonal functionaries, along with Area Secretaries and a few Special Invitees were present.

Zonal Chairman, K V Ramakrishna welcomed the participants. He explained about the developments in the Zone – on business front, transfers and also subtle uneasiness among the officers due to certain actions by Zonal administration.

President, Ekanath Baliga gave a brief on the developments in wage revision, Government’s moves on mergers, developments at AIBOC level, Bank level, the prospects of a Joint Meeting in the third/fourth week of June and the issues taken up by CBOO etc. Following issues were raised by the members:

a. Vindictive transfers in the Zone before completion of the term reportedly based on ZO recommendation.

b. Frequent denial of leave to officers (including Sabbatical Leave) treating the absence unauthorized thereafter.

c. Intolerable and congested environment during BMs’ Business Review Meetings affecting officers.

It was decided to take up these issues with Zonal administration.

d. Need for increasing the CBOO activities – Completion of pending Branch Visits, holding Cluster Meetings, frequent interaction among the ZC members.

e. Keeping the members informed through circulars by Zonal unit.

Zonal Secretary, M S Prapanna thanked all for participating in the meeting.


MEETINgS

THIRUVANANTHAPURAM

A Members’ Meet of Thiruvananthapuram Zone was held on 21st May at The Central Residency. Ekanath Baliga, President, Satish Shetty, General Secretary, L Sobha, Secretary, Women’s Wing attended the meeting from Central Office. Sri Ramesh M Kamat, AGM & Zonal Head, Rakesh Meshram, AGM and Deputy Zonal Head and others were also present.

The meeting started with prayer by Sharima S, Area Secretary.

Zonal Secretary, K D Baburajan welcomed the members and leaders to the meeting. In his welcome speech, Zonal Secretary recalled the active role played by the Zonal Chairman, T C Joseph in leading the Zonal Unit in the most difficult time of initial days of formation of the Zonal unit. He requested all young members to understand more about CBOO and its leaders who had sacrificed their time and energy for better service conditions of officers in our Bank.

Out of every crisis, comes the chance to be reborn – Nena O’Neill


In his address, Sri Ramesh M Kamat, Assistant general Manager, expressed his gratitude for the good work done by officers in the Zone during the demonetisation period which had created a very good image for the Bank in this part of the country. He expressed happiness over the improvement of rank of the Zone from the rock bottom to 24. He requested the officers to improve the compliance level at branches and to improve the house keeping. He stressed on the need for timely lodging of Inspection Report, CERSAI registration, proper keeping of loan documents and timely obtention of AOD etc.

Satish Shetty, general Secretary in his address narrated various risks involved while discharging the duties of officers and various steps initiated by CBOO to equip the officers to be well versed with various rules and regulations etc. CBOO had conducted workshops for new Branch Heads on credit and recovery and informed that these efforts would continue. He cautioned the members in engaging middlemen for sourcing business - especially loans. He referred about various disciplinary cases and expressed concern over the drastic increase of such cases recently. Staff shortage in branches was a major issue and this had aggravated after migration of branches into Finacle coupled with mounting of customer complaints.

L Sobha, Women’s Wing Secretary, was very critical about the indifferent attitude towards issues raised by members by a few of the executives, affecting morale of members. “Simultaneous campaigns by various divisions, without basic support to the branches and non-stop follow up have demoralized the ground staff. We need to link our duties with our rights, protect the interest of ourselves, interest of our colleagues and also the interest of the Bank,” she said.

Ekanath Baliga, President emphasized on the need for good house-keeping, documentation etc. He requested the members to take the ZH’s observations in the right spirit. He briefed the developments on Wage Revision and preparation of Charter of Demand. He reiterated the demand of AIBOC for not linking the wage revision with Net Profit but with Operating Profit. “None of the banks is making operating loss. Net loss is not because of the fault of employees or officers; it is because of making provisions for bad debts, for which employees and officers are not responsible. NPA is now used as a weapon for curtailing the genuine benefits to employees on one side and advocating mergers and consolidation of public sector on the other. There is a hidden agenda to privatise

Every knot that we undo in life, reward is happiness. - S Chander


the Public Sector Banks after merger. We should protect the Public Sector Bank in the interest of our country and the common man banking with PSBs,” he asserted.

Thereafter, T C Joseph, Zonal Chairman, due to retire on 31.05.2017, was felicitated by President, General Secretary and other functionaries in the presence of his family members. Several members and functionaries spoke on the occasion.

Kaur rendered invocation. Zonal Secretary (North), Arvind Arora welcomed all present. During the welcome address, he highlighted the problems faced by the branches which had migrated to Finacle with specific reference to inordinate delays forcing officers to sit very late. Non – payment of compensation during demonetization period by Delhi – South Zone had irked all officers, he said.

Sri Ashok Chandra, DgM recalled his association with CBOO and expressed gratitude to the collective endeavours of CBOO resulting in several benefits to the officers. Union is not for getting a transfer or so. It is for the overall well being of the members, ensuring satisfactory and safe environment at work places and to protect the institution’s interest.

He expressed happiness over good performance of Delhi in achieving sizeable recovery and successful ‘Hulla Bol’ campaign. He gave a clarion call to officers to take Delhi Zones to 1.00 lakh crore business level. “Officers can approach me for any issues. We can solve it together. We must be positive. Work for the Bank,” he appealed.

“It is the leaders’ positivity that brings results and leaders must always be positive. Management must create future leaders for the Bank. Promotion is one tool for this purpose. Transfer is another tool to develop the personality of the officers,” said Satish Shetty, general Secretary.

Addressing members, he appealed to them – especially the junior officers to sacrifice 1-2 terms for the sake of CBOO and take leadership of the movement. Commenting seriously on the practice of posting officers with 2-4 years’ experience as Branch Managers, he said, the management has compromised the safety of Bank and the officers. Banking is a very satisfying profession. Work for the Bank. Do not entertain any middlemen; reach to the borrower directly. Take care of the Bank; take care of yourself, he said.

Vice President, Anil Pahwa expressed happiness over Bank turning the corner and booking satisfactory profits for the financial year ended 31st March, 2017. Net Profit should not be a barometre for assessing the efficiency of the human resources, he said. On the orgnisational matters,

We all stumble – every one of us. That’s why, it is a comfort to go hand in hand. – emily Kimbrough

T C Joseph, Zonal Chairman, in his address, recalled his memories and narrated his long journey of 40 years in the Bank and 35 years with CBOO. He remembered that he never used union for favourable transfer or for some other personal purposes during these years. He stressed on the importance of time management and planning in official life.

In open session, various queries raised by members were answered by General Secretary. Sabumon, Deputy Zonal Secretary proposed vote of Thanks. The programme concluded with National Anthem.

- K D Baburajan, Zonal Secretary

DElHI

A combined meeting of the members of Delhi North and South Zones was held on 10th June at Gharwal Bhavan. President, Ekanath Baliga, Vice President, Anil Pahwa, General Secretary, Satish Shetty and Circle Secretary, Awadhesh Kumar Chaudhary along with Zonal functionaries were present. Sri Ashok Chandra, Deputy General Manager and Zonal Head Delhi – North was also present. More than 200 members attended.

At the beginning of the meeting, Smt. Kawalpreet


he requested the lady members to participate in the union activities more especially in the backdrop of a few latest developments. “Speak to the members; it’s a comfort to them. Take up their problems at appropriate level. This would solve their problem on its own,” he advised the functionaries.

Awadesh Chaudhary, Circle Secretary advised the members to exercise caution in discharging the daily routine functions. He counseled the members, “Acquire knowledge which will increase confidence in you. Banking is an art and you shall learn this art. A few BMs are entertaining middlemen in entertaining credit proposals. This is very dangerous. No middleman will come with service intent. Advances through middlemen are potential threats.”

In the open session that followed, several issues were raised by the members which were replied by the General Secretary. Manjeeth Singh, Zonal Secretary (North) proposed vote of thanks. He called upon the members to contact the functionaries whenever there are any problems. “Please participate in all activities in large numbers – more so in demonstrations etc. Look towards the unity of doctors, employees of Road Transport Corporations and PSUs; we must take lessons from them,” he said.

General Secretary, visiting Delhi for the first time after taking over, was felicitated during the programme. Entire proceedings were compered commendably by Mukesh gupta, Deputy Zonal Secretary (North). The meeting concluded with National Anthem.

- Arvind Arora and Manjeeth Singh, Zonal Secretaries

MEERUT

“Forcing the Public Sector Commercial Banks to lend term loans for infrastructure, in which they had no experience, is the genesis of all problems faced by the PSBs today. Their lack of experience in handling these long term requirements of corporates have landed them in trouble today, saddled with NPAs and the resultant adversity,” said Satish Shetty, general Secretary. He was addressing more than

60 members of Meerut Zone at Hotel Yellow Chilli on 11th June.

In today’s scenario in our Bank, lending has become an unavoidable need, in the backdrop of near to stagnated advances figure as at the last fiscal end. We need to entertain good borrowers, without any involvement, whatsoever, of the middlemen. Banking is an important institution protecting and accelerating the economy and bankers play an important part in the development of the country. We must be proud of our profession. Shortage of supervisory staff is an important impediment in the growth of our Bank’s business. The magic figure of surplus generated through computer programming, sans proper assessment and far from ground realities has brought behind it difficulties in providing substitutes to promotees and transferees, he said.

Speaking on the occasion, Vice President, Anil Pahwa stressed upon the need to enroll all officers in the Zone who are still not with us, into our fold for forging larger and stronger unity. Absence of a good number of members of the Zone in the meeting was concerning, he said. The unit shall activate; the Area Secretaries and Zonal leaders shall interact frequently and take up the issues affecting the members in right earnest. Non-payment of compensation for the officers as directed by the Ministry has affected the morale of the officers. A few Zones have complied with the instructions of the MoF, as communicated by the PAD as against which several Zones have not adhered to it, he said.

Circle Secretary, Awadhesh Chaudhary suggested to the Zonal unit to conduct cluster meetings which will enable the members to involve in the activities of the union and activate the unit. He emphasized on the need to lend as a means to deploy funds at the disposal of the Bank, earn income and thus, also achieve reduction in the percentage of NPAs, rise in which has been haunting the Bank. Branch Managers and officers should acquire knowledge, develop the skills in assessment and appraisal, sanction smaller and retail loans and entertain the borrowers directly without involving anyone in between, he counseled the members.

Even a sheet of paper is lighter when two people lift it - Korean Proverb


“Inability of Wipro to handle the migration process properly and professionally is the main reason for all the problems faced by the Bank today. Poor quality handholding support, inadequate responsiveness of the Help Desk and unduly long time taken to resolve the tickets raised by branches have directly impacted the routine operations in the migrated branches. Despite passage of substantial time after the initial migration, problems are still being encountered in opening CIF IDs, account opening, loan account opening and deposits. Overdue calculation, NPA classification, NPA interest treatment and recovery and other functions in advances have not yet been flawlessly streamlined. Frequent link failures, slowing down of the system and the consequent delays in EOD have put the life of officers into misery. Though, there is marginal improvement in the day-to-day operations, much needs to be still done,” said Ekanath Baliga, President.

There is an urgent need to reassess the manpower of the Bank with logical, factual and ground level realities taking into account all aspects of present branch level working. Challans and footfalls only cannot be the basis for assessment nor the results of computer analysis. Number of loan accounts, requirements of review, renewal, AODs, insurance of assets, work related with new delivery channels, number of ATMs, KIOSKs and related works, average telephone calls attended by the branches, emails received at the branches and each and sundry work needs to be accounted, chronicled and assessed for manpower needs, he said.

Members raised several issues related to Finacle, interest on staff loans, frequent deputations of same officers – year round, denial of sabbatical leave by Zonal Office, need for transparency in APAR evaluation and provision of second officer to all branches etc.

The programme was well compeered by Archana Bisht, Area Secretary. General Secretary who visited the Zone for the first time after assuming office was honoured. Zonal Secretary, Amit Yadav welcomed the gathering. Zonal Chairman, Byom Kesh proposed vote of thanks.

ZoNAl CoNSUlTATIVE CoMMITTEE MEETINgS

DElHI - SoUTH

Zonal Consultative Committee Meeting of Delhi South Zone for first quarter of this financial year was held on 17th May. Organisation was represented by Anil Pahwa, Vice President, Manjeet Singh, Zonal Secretary and Kumar Gaurav, Deputy Zonal Secretary. Management team was headed by Mr. Rathnakara, DGM and Zonal Head duly assisted by Mr. Ravi K and Mr. Manjunath Aithal, Chief Managers and Ms. Jalaj Gautam, Manager (Personnel).

Ms. Jalaj gautam, Manager, Personnel welcomed all present and requested Zonal Head to address.

Zonal Head, Sri Rathnakara briefed about present position of the Zone in all parameters. He thanked CBOO and its representatives for wonderful support for all round growth of the Zone. He further narrated that the Zone’s business grew by 34% as on 31.03.2017 compared to the last year growth of 40% in deposits; but major concern was that of advances portfolio as it grew by only 1%. He emphasized that every branch had to start lending right from the beginning of the financial year. Branches had to come up to the expectations of the top management. There was a good result from ‘Outreach’ and ‘Halla Bol’ campaigns and Bank had also started E-Halla Bol. He also agreed with the problems being faced by the branches due to the system migration to Finalce; but it was the need of the hour and everyone had to support the Bank to complete this process. He expressed his concern over huge NPA which had crossed Rs.600 crores He appreciated the branches for lodging the audit reports well in time. He wished to encourage the whistle blower policy so that problems are identified in the beginning itself for early rectification.

Mr. Ravi K, Chief Manager expressed need on retaining the growth achieved in CASA and requested everyone to focus on Outreach program and Kangaroo and garner good quality Savings and Current Accounts. Mr. Manjunath Aithal, Chief Manager informed about the recovery efforts under the Halla Bol campaign and emphasized on updating securities of loan accounts.

Be brave; be brave. Man dies but once. – Swami Vivekananda


Reciprocating, Manjeet Singh, Zonal Secretary wished Mr. Rathnakara on behalf of CBOO on his promotion to General Manager cadre. He raised the following issues:

a. POS machine problems and poor response by service provider.

b. Requirement of manpower at a few branches.

c. ATM problem at Chhawla branch and

d. Continuous deputation of a few officers for more than 2 months affecting the base branches.

Anil Pahwa, Vice President congratulated every staff member of the Zone for the good performance of the Zone and nil pendency under the lodgment of audit reports.

Meeting ended with an assurance from Zonal Head that issues raised will be resolved.

- Manjeet Singh, Zonal Secretary

HYDERABAD

Zonal Consultative Committee Meeting was held on 19th June at Zonal Office. CBOO was represented by K V Ramakrishna, Zonal Chairman, M S Prapanna, Zonal Secretary, P K Ramesh and Pankaj Kalyani, Deputy Zonal Secretaries and G Bhavani, Zonal Lady Secretary. Zonal Management was represented by Smt. Prashant Chandrashekhar, Deputy General Manager and Zonal Head and Smt. Sandhya Rani G, Manager, Personnel.

Smt. Sandhya Rani g, Manager, Personnel welcomed all present.

Smt. Prashant Chandrashekhar, Deputy general Manager, in her address, informed that 55 branches were negative in SB; average account opening is only 2 per day; ARM and Retail Lending are not growing; NPA was mounting. She appealed to CBOO to request the officers to cooperate in turnaround in these areas to reach June Target.

Responding, CBOO representatives informed that branches were struggling with Finacle issues, staff shortage. Customers were silently moving out of the Bank. While agreeing with the views, ZH informed that it’s the Bank level problem and even in Hyderabad Zone, many Finacle branches were doing well.

CBOO representatives requested the Zonal Head to conduct the Business Review Meetings in spacious and congenial environment unlike last two occasions. ZH agreed to look into the same and do the needful.


THANE

ZCC meeting was held on 20th May at Zonal Office, Thane. Alok Paul, Deputy General Secretary, Sanjay Hile, Circle Secretary, Raghunath P, Zonal Chairman and Deepak Vaghela, Zonal Secretary represented CBOO. Sri Vijay Govindrao Rodi, DGM & Zonal Head, Sri Balla Chitti Babu, Assistant General Manager and Ms. Amitha, Assistant Manager, Personnel represented the Management.

Sri Balla Chitti Babu welcoming all to ZCC meeting, requested Zonal Head to address the ZCC members. Zonal Head, Shri Vijay govindrao Rodi informed that the Zone had achieved 2 stars and 12th Rank for March 2017. He said that the Zone was lagging behind in key parameters like Advances and Retail Lending. He further observed that a few branches had not performed up to their potential. He raised concern over the addition of NPAs and the status of RBIA Reports at a few branches where the lodgement is overdue. He requested branches to maintain good housekeeping and contribute to ARM Lending, CASA and the ongoing Data Cleansing Drive.

Responding, CBOO representatives complimented the Zonal Head for holding ZCC mid of the quarter so that the Zonal and Corporate priorities and focus areas for business development as well as concerns could be shared with field staff before the end of quarter. Assuring CBOO support for all developmental activities of the Zone, they sought the support of the Zonal Office in resolving the manpower shortage issue. It was also requested to look into the matter of compensation for the Demonetisation work.

Ms Amita, Asst Manager, proposed the vote of thanks.

- Deepak Vaghela, Zonal Secretary

If you run after two hares, you will catch none. – Latin Proverb

gREATER MUMBAI

Zonal Consultative Committee Meeting of Greater Mumbai Zone was held today the 13th June. CBOO was represented by Assistant General Secretary, Uday Khade, Deputy General Secretary, Alok Kumar Paul, Circle Secretary, Sanjay Hile and Zonal Secretary Sri N N Ambedkar. The Zonal Management was represented by Zonal Head and Deputy General Manager, Sri Venkatramaiah Surapaneni, Deputy Zonal Head, Sri B. Chitti Babu and Assistant Manager - Personnel, Ms. Bhavna Maheshwari.

Ms. Bhavna Maheshwari, PAD, Zo welcomed the representatives of Orgainsation.

Initiating the discussions, Sri Venkatramaiah Surapaneni, Zonal Head thanked the representatives of CBOO for cordial relationship and for smooth functioning of the branches in the Zone. Zonal Head informed that business of Zone had crossed Rs.63000 crore. Zone had recovered substantial NPAs though the overall NPA had increased. He appreciated the support given by officers for overall growth of business of the Zone particularly for recovery and Halla Bol campaign.

CBOO representatives assured all support for the business development of the Zone. Following issues were raised in the meeting:

l. Hardship faced by the officers in Finacle branches due to server problems and operational hitches.

2. Shifting of Gun license of Bank’s Security Guards.

3. Payment of compensation for the demonetization period as permitted by the Government.

4. Precaution to be taken while campaigning under Halla Bol.

5. Staff shortage in several Branches.

Zonal Head expressed his concern towards the difficulties faced by the Finacle branches, the late closure of Branches and shortage of staff at a few branches and assured to look into the same with positive note. Ms. Bhavna Maheshwari thanked all the participants.

- Nivruti Ambedkar, Zonal Secretary

MANgAloRE

ZCC Meeting was held on 16th June at Zonal Office. B Sridhar, Joint General Secretary, M M Mayya, Zonal Chairman, Bharat Kumar, Zonal Secretary and B S Ramanujachary, Deputy Zonal Secretary represented CBOO. Zonal management was represented by Sri A K Vinod, Deputy General Manager and Zonal Head, Nitin M Maheshkar, Chief Manager.

Nitin M Maheshkar, Chief Manager welcomed the participants. Sri A. K. Vinod, Zonal Head gave details of achievements of the Zone. He emphasized on the need to secure more deposits under CASA. Referring to Recovery and the ongoing ‘Halla Bol’ campaign, he requested the active participation of everyone.

Responding, CBOO representatives highlighted the following issues:

a. Multiple problems faced by Finacle branches and its impact on the business of these branches; quiet exit of valued customers.

b. Shortage of clerical staff at several branches.

c. Unilateral reduction of manpower by the Head Office and its impact on officers.

d. Need for a permanent AFO at Zonal Office.

Zonal Head assured to look into the issues on priority.

- Bharat Kumar, Zonal Secretary

Master Ankush Moger, S/o. Mahadev N. Moger, Chief Manager, HO- Credit Monitoring Division, secured CGPA 10 Grade Points, in CBSE 10 Standard Examination held in March/April 2017. He also stood Second for Dakshina Kannada District. He had

secured 12th Rank in State Level National Talent Search Examination (NTSE) conducted by Department of State Educational Research and Training, Karnataka.

aChievemeNts



aiBOC News

Text of AIBoC Circular No. 31/2017 dated 20.05.2017

BoTTlENECKS IN THE CoMMENCEMENT oF SAlARY REVISIoN

NEgoTIATIoNS IN BANKINg INDUSTRY

We have today sent a communication to Hon’ble Finance Minister of India on the captioned subject. A copy of the same is enclosed for information. All our members/affiliates are requested to await further developments in this regard.

With greetings,

Sd/-(D. T. Franco)gENERAl SECRETARY

………………………………………………………………Text of letter No: AIBoC/2017/19 dated 20/05/2017

Shri Arun Jaitley,Hon’ble Minister for Finance,Government of India,NEW DELHI.

Dear Sir,

BoTTlENECKS IN THE CoMMENCEMENT oF SAlARY REVISIoN

NEgoTIATIoNS IN BANKINg INDUSTRY

We are sorry to bring to your kind notice that even though the Government of India has been insisting for an early salary revision settlement at the industry level between the Indian Banks' Association and the United forum of Bank Unions, there has been an unnecessary delay due to certain avoidable difficulties created by the Management of a few banks in the banking industry. It is historical that the salary revision in the banking industry takes place once in 5 years through bilateral negotiations between the associations/unions and the Indian Banks’ Association covering over 10 lac workforce in the entire banking industry. During the last five decades we have concluded 10 bipartite settlements

and the 11th one is now expected to take off. The first round of meeting was held between the IBA and the constituents of the United Forum of Bank unions on 2nd May, 2017 but without any concrete progress. One of the major hurdles that we are now encountering is in respect of the ‘mandate’ to be given by the member banks to the Indian Banks’ Association. A few of the banks have given a conditional mandate creating a chaotic and confusing situation in the negotiations, by insisting that they are allowing mandate for discussions only upto officers of scale III and that the remaining scales will have to be left to the discretion of the Bank.

2. The banking industry is overwhelmingly under the control of the Government of India due to the historical decisions taken by the Government of India during 1969 and 1980. The Nationalization of Banks was in the best interests of the economy and to take banking facilities to the nook and corner of the country. We have seen the great contribution made by the banks during the last several decades due to this consolidation and ownership by the Central Government. But there was one area which was causing serious industrial relations crisis in the Banks at frequent intervals. Different banks had different service conditions and compensation system creating serious problems in the area of HR management. It was at this stage that the Government of India appointed Pillai Committee for the purpose of standardization of the scales and grades and also to bring parity amongst the Public Sector Banks. After a thorough study of the service conditions that existed in those days, the Pillai Committee submitted a comprehensive report aiming at standardization and uniformity in the service conditions of the officers in the banking industry. Thereafter, the Government of India introduced the recommendations of the Pillai Committee in the Banks for ensuring standardization and parity amongst the Public Sector Banks. Thus, a well-developed pattern was established over the next rounds of bipartite system in carrying forward the attempts made by Pillai Committee for the purpose of standardization of the salary scales and compensation system in the Banking industry. The Pillai Committee had

A friend to all is a friend to none. – Greek Proverb


recommended 4 grades and 7 scales which has now become a regular feature in all the Public Sector Banks including the State Bank of India.

3. The officers’ organizations have been negotiating with the Indian Banks’ Association in respect of all these 7 scales over the last several bipartites. Thus, the industrial relations have been cordial and harmonious as far as the salary structure and compensation systems were concerned as they were being discussed and settled through bilateral negotiations at the industry level. The present decision of some of the Banks, in particular the bigger Banks, seem to create a similar disparity which was prevailing earlier to distort the broad parity that is prevailing in the banking industry by attempting to retain the right of decision in regard to the scale IV and above in the banking industry. This will defeat the very purpose of the Pillai Committee’s attempt in ensuring parity and the subsequent objectives of the bilateral settlement.

4. We have conveyed our sentiments to IBA in our informal discussions and have requested them to ask all the Banks to give an unconditional mandate for negotiations on all scales rather than restricting it up to scale III alone. We therefore request your kind intervention in the matter so that the issue could be resolved without any further escalation on this issue which may affect the smooth conduct of negotiations.

Please treat the matter as urgent. Thanking you in anticipation.

Yours sincerely, Sd/-(D. T. Franco)gENERAl SECRETARY

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AIBoC Press Release dated 27/05/2017

All India Bank Officers’ Confederation raises its concern on the advertisement notice issued by the Reserve Bank of India for the appointment of a Deputy Governor. The advertisement on the web site of the Reserve Bank of India (RBI) has sought applications from candidates with over 15 years of experience in banking and financial market

operations; Candidates seeking selection must also have been whole-time directors or board members.

The advertisement does not specify whether the candidate should be from the public sector or private sector banks. The advertisement stated that an appreciation, as a practitioner, of the role of banks in large corporate lending, in an environment with strong bond markets is desirable, besides seeking an understanding of bankruptcy/ restructuring/ turn-around/ credit models, and/or overseen the risk management function in a large financial institution. Potentially, the RBI could appoint a Deputy Governor from the private sector for the first time when the term of SS Mundra ends in July this year. The recruitment notice clearly indicates that candidates from the private sector may also be considered for appointment as the Deputy Governor of our Central Bank which will defy the age old practices while appointing the Deputy Governor of the Reserve Bank. It is also very pertinent to note that prior to his appointment as the Deputy Governor at RBI in 2013, the present RBI Governor Mr. Urjit Patel was advisor (Energy and Infrastructure) with Boston Consulting Group and he had also worked with Reliance Industries in the past. So, we have legitimate apprehension that Mr. Patel too will be inclined to appoint a Deputy Governor from the private sector replacing SS Mundra which will not be in the interest of the nation.

The RBI has traditionally appointed four Deputy Governors: two of them are from within the central bank, one is an economist generally from the Government, and the other is from the banking sector. So far, the Deputy Governor from the banking sector has been from the Public Sector Banks. While N S Vishwanathan and B P Kanugo are from the RBI itself, Viral Acharya was recently appointed to the position meant for an economist in charge of monetary policy and SS Mundra is the banking sector representative. SS Mundra was earlier the Bank of Baroda Chairman and Managing Director who was appointed in 2014 for a period of three years. The RBI, however, did not specify whether the applications are being sought for a replacement for Mundra who has been closely involved in the bad loan resolution process. However, we can well

The sore that is made by fire will heal again;Not so the wound that by tongue is made. - Thirukkural


assume that the Finance Ministry has initiated the process to appoint a new Reserve Bank Deputy Governor replacing S S Mundra whose term is coming to an end in July this year. SS Mundra’s predecessor was KC Chakraborty who had headed Punjab National Bank before his appointment in RBI as Deputy Governor. Moreover, in the latest advertisement, the Centre has dispensed with “experience as a CEO” being a criterion for the “Banker” candidate which undeniably raises an iota of suspicion that the concerned candidate has already been pre-selected who must be definitely from the private sector.

The eligibility criteria of the latest advertisement show that the Government is seeking candidates from beyond its traditional recruitment base. Besides practising bankers from both private and public sectors, it makes even consultants who have worked closely with banks eligible for the post. It is very unfortunate to see that at a time when the stressed assets of the public sector banks are alarmingly high and need to be decisively dealt with by the experience of the apex bank, the Government is trying to encourage the candidates from private sector. We are well aware that the larger portion of the banks’ stressed assets are attributed to the private corporate defaulters, and hence we have the apprehension that the Deputy Governor, if selected from the private sector, may not be in the right position to deal with the stressed assets which mainly pertain to the private corporates.

We would like to state in straight and clear terms that we vehemently oppose such move by the Ministry of Finance to encourage the appointment of Deputy Governor from the private sector by ignoring the tradition. We strongly demand that the RBI come up with a revised advertisement or strictly refrain from appointing any candidate as the replacement for SS Mundra from the private sector. We also want to reiterate that we are already in an agitation under the umbrella of UFBU protesting the privatization and merger drive of the RBI and the Government at the centre. Now, with this sort of unfortunate development with regard to the appointment of RBI Deputy Governor, we would like to put on record in strong words that if our protest goes unheard and the Government

does not intervene with some immediate steps to address our rightful issues, we will be left with no other option other than strengthening our agitation by even resorting to Bank Strike, if necessary, which might not be in the best interest of the Government and the RBI.

D. T. Franco)general Secretary

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RANDoM REFlECTIoNS

Banks Board Bureau, Indra Dhanush and ESoP

Business Standard, Editorial of 15.02.2017 titled, ‘Chasing rainbows- Banks Board Bureau is conspicuous by its inaction’, Economic Times article on the same day, ‘ESOPs for star performers at State-run Banks in the Works’ and the Finance Ministry’s news that they will soon announce Indra Dhanush – 2, made me to think. BBB, Indradhanush and ESOPs are part of the recommendations of P.J. Nayak Committee and endorsed by Gyan Sangam – 1 held at Pune on Jan 2&3, 2015.

The roles of BBB are, “Appointment of Board of Directors, advise Govt on appointments, advise Govt on desired structure at Board Level, help Banks to develop a robust leadership succession plan, to build a data bank, to advise Govt on a code of conduct and ethics for managerial persons in PSBs, to advise Govt on evolving suitable training and development programmes for management personnel and help banks in terms of developing business strategies and capital raising plan etc”. All these, by part time, show the intention – Rubber Stamp of Govt. The constitution of the BBB to replace Appointments Committee has not improved the situation in anyway. BBB is only an interim body and will be collapsed into a Banking Investment Company as per Gyan Sangam. The Govt share will be transferred to the Company. It is proposed to reduce the share holding of GOI in Public Sector Banks to 40% in stages. It has not acted where it has to but interferes in areas like wage revision which is not its mandate.

It’s almost a year. The BBB has only recommended 9 names for Executive Directors. Many Boards of Banks have vacancies. Some Banks do not have

In your search for riches, don’t lose the things that money cannot buy.


Managing Directors. There are more than 40 vacancies of Officer / Employee directors in Public Sector Banks including SBI and though BBB has no role, it’s told that the recommendations have been sent to the Chairman, Banks Boards Bureau. The Chairman, Shri Vinod Rai, retired from Civil Service in 2008 and was appointed as CAG for 5 years. He did a good job. IDFC website still has his name as Director. He is also now in charge of BCCI and a member of a Committee on Public Sector appointed by Kerala Govt. All the members are also part timers. Ms. Rupa Kudwa, Member, BBB is also Director in Infosys and Omadayar Group. Two directors are secretaries in DFS and Dept of Public affairs who do not have time. One more is RBI Deputy Governor and the RBI is under cloud. Mr. Anil Khandelwal’s report was rejected by all Trade Unions in the Banking Industry like that of Nayak Committee and he is also a member of BBB. Mr. H.M. Sinor was Joint MD of ICICI and he would advice Public Sector Banks as member of BBB. What a strange coalition?

So there is no way BBB can do justice. It’s constitution itself is ultra virus; it was constituted to avoid Parliament. So it has to be dismantled and further plans for BIC have to be stopped. Banks require autonomy and not over interference. The ESOP scheme is being pushed by Gyan Sangam and now by Mr. Vinod Rai. He has not discussed anything with the Associations who are stakeholders in spite of our request. Now, this part time, retired officers are being advised by reports of Multinational Consultants like Mckinsey and Boston Consultancy Group who are guided by IMF & WB. This is not going to strengthen the Public Sector Banks.

The objectives announced in Indra Dhanush have not been achieved. They were capitalisation, De stressing PSBs, strengthening risk control measures and NPA disclosures, empowering of banks, a frame work for accountability and governance Reforms. There is no progress in reducing NPA or improving governance or other objectives. The new Chairmen and MDs announced by Indradhanush including some from Private Sector have not been able to make any turnaround. So what is needed for banking industry is not ESOP for the so called star

performers or variable pay. Appreciation by these methods has not helped any industry. Appreciation can be in the form of certificates, promotions, awards etc. What the Public Sector Banks need are:

F Functional Autonomy

F Appointment of Directors and Chairman nominated by institutions like IIM, IIT and an Independent RBI.

F No interference but policy directions for the country.

F More staff to provide better services

F Attractive salary taking into account the risk and responsibility

F Focus on rural and semi urban network and credit

F Adequate power to recover loans.(Implementation of recommendations of Parliament Standing Committee on NPA)

Public Sector Banks have proven strength. Please let them function. They have saved this country during demonetisation and during all crisis periods in addition to regular contribution to the economic growth. Public Sector Banks are like Temples. let us respect them.

D T Franco, General Secretary, AIBOC16.02.2017

Make peace between men; one who makes dissentions, perishes. – Hadis

CORP BANK NEWS

AlloCATIoN/UPDATIoN oF UCIC

UCIC number is being taken as the base for the TDS calculation. The process is all about modification/rectification of party masters wherever anomalies were observed. Even after confirmation from branches regarding KYC updation, same party masters are figuring again and again in the pending list generated on a weekly basis.

Data dump is available in Bank’s Intranet: DOWNLOADS>HO KYC & AML>UCIC DATA (followed by latest date). The branches are now required to modify the Party Master and authorize the same with proper KYC documents.

Branches may contact KYC/AML Division, HO for clarifications/further details.


CIBIl unveils solution for banks

Credit information company Trans Union CIBIL on Wednesday launched a new solution to help banks expand their customer base. The product, Credit Vision, looks at the past credit behavior of a consumer, predicts risks and helps banks to expand credit opportunities by studying his payments, exposure and spend behavior. Credit Vision could enable credit access to an incremental 15 lakh borrowers every year without compromising on risk, the company said

- The Hindu Business Line, 1/06/2017

Make bank statement less cryptic

Following numerous complaints from customers as well as investigation agencies- that particulars in passbook/bank statement are quite cryptic and generally inscrutable, that Reserve Bank of India on Tuesday said it will direct banks to provide essential minimum relevant details in respect of various transactions. Despite extant RBI guidelines that mandate recoding of intelligible particulars in the statements, SS Mundra, Deputy Governor, underscored that the narration in the passbooks/bank statement at present is difficult to decipher. “Of late, we have received numerous complaints not only from customers but also from the investigative agencies who find it extremely difficult to understand the truncations during the course of their investigations. RBI is in the process of reiterating its guidelines to banks to provide essential minimum relevant details in respect of various transactions in the passbook/statement,” said Mundra at the annual conference of the Banking Codes and Standards Board of India.

Further elaborating on customer services in the emerging regulatory/supervisory environment, the Deputy Governor said the safety of cheques put in the cheque drop boxes as also the quality of cheque leaves (enabling printing of fake cheque leaves), is a matter of concern for RBI. Flagging customer service to senior citizens as another area of concern, he referred to the difficulties faced by

BaNkiNg rOuNd uppensioners in receiving updated pension, issuance of life certificates, verification of signature, need for periodic KYC etc. The Deputy Governor called upon banks to ease the frustration of dealing with call centres and automated response systems.


govt. Turns Focus on 50 Top Stressed loan Accounts

About 50 stressed accounts have been identified as being on the watch list of the government, the Reserve Bank of India and, in some cases, vigilance agencies, according to several officials. The list includes Videocon Industries Ltd: Jindal Group firms such as Jindal Steel and Power Ltd; Punj Lloyd; Jaypee Group; Lanco, which includes Lanco Infratech; Monnet Ispat; Essar Ltd; and Bhushan Steel. The list represents stressed accounts, which includes loans that have turned bad or been restructured as of December 2016. The total value of such top 50 loans is estimated to be around Rs 4-5 lakh crore, which is almost 80-85% of the total bad loans at state-run banks have grown more than Rs 1 lakh crore since April 2016 to Rs 6 lakh crore as of December 31.

- The Economic Times, 30/05/2017

Mundra comes down on banks for service charges

Some banks are using charges on maintaining minimum average balance in accounts and offering other facilities as an excuse to deny or deter a few customers from availing some of their services, RBI deputy governor SS Mundra said on Tuesday. He also batted for introduction of bank account number portability using the Aadhaar and various other platforms of NPCI (National payments Corporation of India). “While banks have been granted autonomy in fixing minimum average balance or charging for premier services, it should not be used as an excuse to deny or drive away services to the common man.

Most of the banks have introduced charges on non-maintenance of minimum balance in accounts and for using banking-related facilities. He said there is no harm in banks charging customers to offer select services but norms should not be designed to keep some customers away. Mundra was speaking

Those who untiringly make efforts great, shall drive back obstacles induced by fate.- Thirukkural


at an event organised by the Banking Codes and Standards Board of India (BCSBI) here.

- The Times Of India, 31/05/2017

Bad loans Worth 6k cr to go Under Hammer

Andhra Bank and Allahabad Bank have put up for sale nearly Rs 6000 crore of bad loans amid mounting pressure on state run lenders to clean their books. While Andhra Bank wants to sell off more than 100 accounts adding to about Rs 4000 crore of loans, Allahabad Bank has invited bids for 73 accounts with outstanding loans of Rs 2000 crore. The assets on sale include Seven Hills Hospital, Visa power, Visa Steel , L&T Chennai Tada Toll Road, KS Oil, Transstroy India and a few of its associate companies, Maheshwari Ispat and Abhijeet Power, two senior executives told ET. Nearly two dozen asset reconstructions companies or ARCs will participate in bidding for the bad loans on offer, they said in condition of anonymity. This is the first auction of bad loans by the two commercial banks after the Reserve Bank of India revised norms for the sale of bad loans, which came into effect since the beginning of this financial year and are designed to ensure that ARCs have skin in the game. The outcome of these two auctions will therefore have a bearing on the sale of bad loans in the coming quarters, the executives said.

As per the new norms, ARCs will have to pay at least 50% of the purchase price in cash and the balance 50% can be paid in form of security receipts or SRs, which is similar to bonds and mature over five to seven years depending on the success of debt recast. Till last year, only 15% of the purchase price was paid in cash while the balance was paid in the form of SRs. As per the revised norms, banks can accept less cash and more SRs provided they make higher provisions on such accounts.


Banking Patchy in India, 7 States grab Major Share

If economic growth has been lopsided in India, with a few states outperforming others, it’s no different with banking. Seven states are seen to account for more than two-thirds of the overall banking-a

trend which could be slowly changing. “Two third of aggregate deposits and credit continued to be concentrated in the seven states of Maharashtra, National Capital Territory of Delhi, Tamil Nadu, Karnataka, Uttar Pradesh, West Bengal and Gujarat,” the Reserve Bank of India stated in its Quarterly Statistics on Deposits and Credit of Scheduled Commercial Bank, as of March 2017. These states together accounted for 65% of the total deposits raised in the country as of March 2017 or Rs 69 lakh crore of the Rs 107 lakh crore deposits raised in the period. They accounted for 72% of total credit disbursed in the country or Rs 57 lakh crore of the total Rs 79 lakh crore-worth credit disbursed in the period, the RBI data showed.


Telecom industry’s debt at unsustainable levels: SBI

The country’s largest bank SBI has sounded alarm bells over troubles of the telecom industry with its chairman Arundhati Bharracharya writing to the government regarding “highly unsustainable levels” of debt of mobile companies. The telecom industry’s debt to the banking sector is estimated at Rs 4 lakh crore. SBI is understood to be carrying the largest exposure to the telecom industry, and Bhattacharya is now seeking duty waivers and deferred spectrum payments to save the bleeding telecom companies. “The stress in the sector has reached highly unsustainable levels after the entry of new players and lunch of free services, which led to erosion of EBITDA (earnings before interest, taxes, depreciation and amortization) of the telecom service providers,” Bhattacharya wrote in a letter to Telecom Secretary Aruna Sundarajan.

- The Times of India, 03/06/2017

RBI initiates ‘prompt corrective action’ for Dena Bank

The Reserve Bank of India has initiated prompt corrective action (PCA) for Dena Bank in view of high net non-performing assets and negative return on assets. In a statement to the stock exchange, the public sector bank said: “This action will not have any material impact on the performance of the bank,

Carpenters bend the wood at will; Wise men learn to bend themselves - Dammapada


and will contribute to improve the internal controls of the bank and improvement in its activities.” As of march-end 2017, Dena Bank’s net NPAs as a percentage of net advances deteriorated to 10.66 percent (6.35 percent as on March-end 2016). ROA of the bank for two consecutive years has been negative (-0.75) in FY16 and 0.67 in FY17.

Last month, the central bank had initiated PCA for IDBI Bank and UCO Bank view of high NNPAs and negative ROA. The RBI had initiated PCA on India Overseas Bank in October 2015.


Risk-averse RBI disappoints on rate cut

As was widely expected, the six member Monetary Policy Committee of the RBI decided on Wednesday to keep the policy rate on hold, but for the first time since the panel was entrusted with the task of fixing the benchmark rate in October 2016, the decision was not unanimous. It cited inflationary pressures arising among others, from rising rural wages, robust consumption demand, imminent implementation of the Seventh Central Pay Commission’s award on house rent allowance, and the possibility of global risks materializing in the form of imported inflation to keep the rate on hold with a neutral stance. Reserve Bank of India Governor Urjit Patel said: “With so many moving parts and the outlook clouded with uncertainty, the MPC decided by a vote of 5-to-1 to stay on hold and wait for greater clarity to emerge with incoming data. “…As the government and the RBI embark resolving the twin debt hangover problems-over-leveraged corporate sector and stressed banking sector-we felt that more targeted interventions that can unfreeze credit to help the stress-free but recently slowing sectors of the economy borrow at better terms are likely to work better.”

Repo rate kept at 6.25%

This is the fourth time on the trot that the repo rate (the interest rate at which banks borrow funds from the RBI to overcome short term liquidity mismatches) has been kept steady at 6.25 percent. The committee cut inflation projection for the first half of the year to 2-3.5 percent (from 5 percent projection made in April) and the second half projection to 3.5-4.5 percent (4.5 percent). It also

pared the gross value added (GVA) growth projection for FY2018 to 3.7 percent from 7.4 percent in April.

Boost to the housing sector

In a bid to give a boost to the housing sector and reduce home loan rates further, the RBI has reduced risk weight (the amount of capital banks need to set aside for making loan) for certain categories of home loans sanctioned with effect from June 7. It also decided to reduce the standard asset provisioning rate on such loans from 0.40 percent to 0.25 percent.


Banks Urge RBI to Soften Qualifying Norms for S4A

Beleaguered bankers on Tuesday demanded that the Reserve Bank of India ease conditions on loans that would qualify for restructuring under the so-called S4A scheme and permit them to spread the losses arising out of such a deal over many quarters, said two people familiar with the matter. Bankers told the regulator during a meeting that changes in the rules governing restructuring is essential for the banking sector to overcome the Rs12 lakh crore of stressed assets in the system and begin lending actively again, said those people who did not want to be identified.

“The crucial demand was that S4A should be permitted even if the sustainable portion of the loan is below 50%,” said one of the persons. “Because there are huge loans, which even if 30% or 40% is restructured it would be a big boost to the industry. The RBI, banks and the government have been contemplating ways to resolve the bad loans logjam that’s crippling the sector Many state-run banks are precariously low on capital adequacy; and in cases like IDBI Bank, the regulator has imposed restrictions on lending and other activities. An e-mail sent to RBI spokesperson about the deliberations did not get a response. The RBI’s S4A scheme which insisted that at least 50% of the loan of a defaulter should be sustainable to qualify for restructuring did not help resolve the issue since many companies’ cash flow were insufficient to service even half their loans.


Let noble thoughts come to us from every side - rig Veda


RBI tells banks to record pension payment order numbers

The Reserve Bank of India has advised all agency banks to order the pension payment order (PPO) numbers on the passbook of pensioners/family pensioners. The RBI’s instruction in this regard comes as it has noticed that a few agency banks have not yet implemented the instructions in all their branches. RBI pays agency commission (also called turnover commission) to the agency banks for the government business handled by them. The PPO numbers is aimed at alleviating the difficulties reported by pensions to get duplicate PPO in case the original goes missing, transfer of pension account, and commencement of family pension to spouse or dependent children after the death of the pensioner, among other.


Assocham to petition Centre, RBI for flexible approach in resolving NPAs

The Assocham has called upon the Government, the Reserve Bank of India to take a pragmatic approach while resolving the complex issue of non-performing assets in banks.

Reviewing the State of Economy here today, the Chamber executives said a flexible approach will help recover debt while also ensuring turnaround of companies saddled with debt. Sandeep Jajodia, Assocham President, expressed concern that the RBI, in its credit policy review yesterday, has missed yet another opportunity to lower the policy interest rates and help review the industrial and overall economic growth. “We will soon approach the government and RBI and petition them,” he said.

Pragmatic assessment

Calling for a pragmatic assessment of NPAs and then seeking to address the issue would be better than merely declaring them NPAs and going all out against the defaulter, who defaulted due to factors beyond his control, he said. Jajodia said, “the terms of different schemes for resolution of the NPAs should be flexible and liberal enough to be accommodative, rather than being rigid.” He mentioned how power

projects tend to default when the Discoms delay payments. “Once an account is turned into an NPA, the avenues for working capital are choked which hastens the curtains on the enterprise. Thus, whatever chances are there for survival and revival of a stressed enterprise or a project, are gone once the working capital requirements are not met,” he said.


SBI Cuts Credit lines to Weak Telcos

State Bank of India is believed to have cancelled existing, but unused, credit lines to some financially weak telecom carriers, following the banking regulator’s direction to make immediate provisions against even standard assets in the debt-laden sector. “In some accounts, the bank has cancelled the existing line of credit,” a senior executive at the state run lender said, speaking on condition of anonymity. The official didn’t name the companies.

Bharati Airtel, Vodafone India, Idea Cellular and Reliance Jio-the top four based on number of subscribers- said on Thursday that the bank had not taken any such action with them. SBI, RCom, Tata Teleservices and Aircel didn’t respond to emails seeking comment. A borrower can draw from line of credit according to his requirements. By scrapping the facility, banks will be able to bring down their requirement of capital that needs other wise to be put aside against exposure to telecom companies, thus freeing up more funds to lend to other sectors. “We are also waiving the commitment charge in almost all cases,” the executive said, referring to a fee usually levied when a borrower has not taken the full sanctioned amount.


RBI Identifies 12 Defaulters for Insolvency Proceedings

The Reserve Bank of India (RBI) on Tuesday sought to address potentially about a fourth of the Rs 6 lakh-crore non-performing assets (NPAs) on the books of local lenders, mandating that a dozen such accounts be taken to the bankruptcy courts. RBI didn’t name any defaulter, bankers say borrowers such as Bhushan Steel, Essar Steel, Lanco, and

To enjoy life, one shall give up the lure of it. - M K Gandhi


Alok Textiles may be the first set of companies facing proceedings under stringent recovery laws. “The IAC (Internal Advisory Committee) noted that under the recommended criterion, 12 accounts totalling about 25% of the current gross NPAs of the banking system would qualify for immediate reference under IBC (Insolvency and Bankruptcy Code),” the RBI said late on Tuesday.

- The Economic Time, 14/06/2017

Aadhaar made mandatory for new bank accounts, transactions above Rs 50000

Stepping up its fight against tax evasion, the Centre has made it mandatory to quote the Aadhaar number for opening bank accounts and for transactions exceeding Rs 50000 with the amendments to the Prevention of Money Laundering (Maintenance of Records) Rules, 2005 notified earlier this month, banks will have to demand both Aadhaar and Permanent Account Number (PAN) for verification of identity, starting June1.

The new rules mandate existing bank account-holders to provide their Aadhaar details by December 31, while new applications will be expected to quote either the 12-digital number or offer proof that they have applied for Aadhaar enrolment. Small accounts-those with a limit of Rs 50000 can be opened without Aadhaar, but only at bank branch that are core-banking enabled, or where it is “possible to manually monitor” such accounts. Banks are expected to ensure that foreign remittances are not credited to such accounts, and that the stipulated limits on monthly and annual transactions and balance are not breached.

According to the new rules, “The small account shall initially remain operational for 12 months, and thereafter for a further period of 12 months if the holder of such an account provides evidence before the banking company of having applied for any of the officially valid documents within 12 months.” The small accounts will be monitored, and in case of suspicion of money laundering, or financing of terrorism or such other high-risk activities, the identity of the account-holder will be verified by Aadhaar, or proof of having enrolled for it.


Banks Board Bureau Won’t Pick Head of Financial Institutions

The Government has taken away the task of selecting candidates to run state-run financial institutions from the Banks Board Bureau, narrowing the mandate of the independent body set up a year ago to primarily help reform struggling banks. A committee headed by financial services secretary Anjuly Chib Duggal will now select CEO for four financial institutions where the posts are lying vacant, a senior government official said. This has raised concerns over conflict of interest, because the list of candidates the panel has to screen includes officials from the finance ministry, where Duggal also works. The government has received close to 90 application for the top posts at IIFCL, IFCI, SIDBI and Exim Bank. Besides the financial services secretary, additional secretary GC Murmu is also a member of the panel. The Bureau, headed by former Comptroller and Auditor General Vinod Rai, was established in April 2016 with an aim to free the Government of the administrative task of appointing top executives and overseeing their governance standards at state-run banks and financial institutions. It will continue to have the mandate to select top executives to run state-run banks.


Banks Struggle with Frontend IT For Decentralised gST Registration

Banks that had hoped the Government would allow them centralized registration under the goods and services tax (GST) appear to have been caught unawares. Now that they are required to register in each state, both public and private lenders are frantically trying to change their frontend information technology (IT) systems. Some of the bigger private and multinational banks started modifying their frontend IT systems about four months ago and expect to be ready by July 1, when the new tax regime is set to be rolled out. Some public sector banks, scheduled banks and smaller private banks began reconfiguring their systems only about a week ago or haven’t even started.

State-owned banks including Bank of Baroda,

By appreciation, we make excellence in others, our own property - Voltaire


India Overseas Bank, Vijaya Bank and Indian Bank and scheduled banks Saraswat Bank, RBL and DCB called for proposals from IT companies only recently. The challenge for banks under GST is to register in each state, unlike the current tax system. They will have to maintain state-wise revenue data and operate IT solutions to raise invoices for their business clients. Experts said in the absence of GST compatible frontend IT systems, banks won’t be able to raise invoices and customers may not get input credits. “Those banks that had started earlier now stand to gain as they have had time to prepare well, both on the tax and IT front. The approach taken by the banks to become GST compliant could also be different, depending on the proportion of B2B (business to business) and B2C (business to customer) services, the product segments where they operated and the time when they started their GST preparation,” said MS Mani, senior director at Deloitte Haskins & Sells.


Election of shareholder directors at SBI irks officers’ body

The All India Bank Officers’ Confederation (AIBOC) has voiced concern over the recent election of shareholder directors to the central board of State Bank of India (SBI). Sanjiv Malhotra, Pravin Kutumbe, Bhaskar Pramainik and Basant Seth were elected as shareholder directors at the elections held in Mumbai on June15. Earlier, SBI had announced that voters who could not come in person had the opportunity to provide a proxy, authorizing someone to vote on behalf of him/her. Anyone with more than 50 shares could vote, but AIBOC said it was unfortunate that SBI charged close to Rs13 lakh for a CD containing the voters list.

The last date for nomination was changed at the last minute thereby giving no time for campaign which put an individual at a disadvantageous position vis-a-vis the candidates backed by corporate houses. The All India State Bank Officers’ Federation (AISBOF) had fielded Amar Pal, its former President, former General Secretary of AIBOC and a former Director in the central board of SBI as candidate. It had requested all office-bearers to collect proxy forms from officer members and staff and others who were shareholders. AISBOF and

AIBOC took the election as a challenge and went all out to contact shareholders from all walks of life, including friends, relatives, officers and award staff with SBI shares.

The election of Amar Pal could have been instrumental to safeguard the interest of all shareholders, including employees and officers working in SBI, the AIBOC said. Moreover, the ‘evil designs’ of authorities to deprive the workforce in participating in the bank’s functioning could well have been partially thwarted. From its experience, AIBOC suggested to banks that voting should be done online so that it becomes a more democratic process. It is unfortunate that the Center directs institutional investors such as LIC which has large member of shares, to vote for its favorite candidates. When it has its own nominees, it is not fair on the part of the Centre to do this to get favourites elected, the AIBOC said.

The laws need to be changed to provide for at least one shareholder Director from individual shareholders who constitute 6 percent of SBI shareholders. AIBOC said it will take up the issue with SEBI. It is clear from the results that corporate representatives have got the support of institutions and the Centre. It also appealed to the Centre to respect the laws of the land and clear the appointment of Officer/Employee Directors pending for years. In fact, it does not have an Officer-Director or Employee-Director on the board of any banks. Despite its ‘best and continuous efforts’, the Centre has maintained an enigmatic silence in the matter.


New Note Deposit Window for Institutions

Government has given banks, post offices and district central co operative banks, a month to deposit any demonetized currency still in their possession, subject to restrictions. “Such SBNs may be deposited by such banks, post offices and district central co operative banks in any office of the RBI within 30 days from the commencement of these rules,” said a Government notification issued on Wednesday.


Prosperity makes friends; adversity tries them. – Anonymous

Class rOOm

THE DEBATE oVER THE USE oF gVA AND gDP

With the industrial output and consumer price numbers released, all eyes are now set on the growth numbers that would be released on Wednesday. After following gross domestic product (GDP) for many years, policy makers have now also started looking at gross value added (GVA) to analyse growth. ET explains:

1. What is gross Value Added?

Put simply, it is a measure of total output and income in the economy. It provides the rupee value for the amount of goods and services produced in an economy after deducting the cost of inputs and raw materials that have gone into the production of these goods and services. It also gives sector specific picture like what is the growth in an area, industry or sector an economy.

2. How is it measured?

At the macro level, from national accounting perspective, it is the sum of a country’s GDP and net of subsidies and taxes in the economy. When measured from the production side, it is a balancing item of the national accounts.

3. What is gDP

It gives the economic output from the consumers’ side. It is the sum of private consumption, gross investment in the economy, government investment government spending and net foreign trade (difference between exports and imports).

4. What is the difference between the two?

While GVA gives a picture of the state of economic activity from the producers’ side or supply

side, the GDP gives the picture from the consumers’ side or demand perspective. Both measures need not match because of the difference in treatment of net taxes. This is one of the reasons that in the first quarter of 2015, GDP growth was stronger at 7.5% while GVA growth was 6.1%.

5. Why did policy makers decide to also give weight to gVA?

A sector-wise breakdown provided by the GVA measure can better help the policymakers to decide which sectors need incentives/stimulus or Vice versa. Some consider GVA as a better gauge of the economy because a sharp increase in the output, only due to higher tax collections which could be on account of better compliance or coverage, may distort the real output situation.

6. Which of the measures is considered more appropriate gauge of the economy?

A sector-wise breakdown provided by the GVA measure helps policymakers decide which sectors need incentives or stimulus and accordingly formulate sector specific polices. But GDP is a key measure when it comes to making cross-country analysis and comparing the


An internet download


income of different economies.


A. The following members will be retiring from the service of the Bank on attaining the age of superannuation on 31st July, 2017:

1. Mr. Neellakanta Nayak U, Deputy general Manager, Circle Audit Office, New Delhi

Sri Nayak joined the Bank as a Typist cum Clerk in June, 1976. He was promoted to Officer cadre JMG Scale I in September, 1981. He was promoted as Manager in MMG Scale II in March, 1993 and as Senior Manager in Scale III in June, 1997. He became Chief Manager in SMG Scale IV in November, 2004 and Assistant General Manager in Scale V in June, 2009. He was elevated as Deputy General Manager in TEG Scale VI in June, 2013.

During 41 years of service, he worked at Head Office, Bangalore-Regional Office, Srinagar, MD & CEO Secretariat HO, Banavase, Marmugoa (Vasco-Da-Gama), Hyderabad-Service, Bangalore-Fast Collection Service, CAPS, New Delhi - Regional Office, Hauz Khas, Nongloi Jat, Kalyan-Murbad Road, Mumbai-Dahisar (Avadoot Nagar), Santacruz (East), Versoa, Noida-S M E, Mumbai- Zonal Office, Bandra and Chandigarh - Zonal Office.

2. Mr. Prabhala Sai Krishna, Chief Manager, Zonal Office Hyderabad

Sri Krishna joined the Bank as a Clerk in January, 1978. He was promoted to Officer cadre in JMG Scale I in March, 1983. He became Manager in MMG Scale II in July, 1996. He was elevated as Senior Manager in Scale III in December, 2004 and Chief Manager in SMG Scale IV in August, 2012.

retiremeNtsDuring 39 years of service, he worked at Hubli-Regional Office, Guntur, Vijayawada-Main, Satyanarayanapuram, Kolkata-Brabourne Road,

Ongole, Guntur, Pedapulivarru, Regional Office-

Karnataka II, Head Office - Information Technology

Division, Bangalore - Zonal

Office (South), Core Centre,

New Delhi-Lodhi Complex and

Shankerpalli.

3. Mr. K Shridhara Upadhyaya, Assistant general Manager, Head Office

Sri Upadhyaya joined the Bank

as a Clerk in February, 1979.

He was promoted to Officer cadre in JMG Scale

I in July, 1984. He was promoted as Manager in

MMG Scale II in December, 1994 and as Senior

Manager in Scale III in January, 2001. He became

Chief Manager in SMG Scale IV in June, 2005 and

Assistant General Manager in Scale V in August,

2009.

During 38 years of service, he worked at Sakleshpur,

Banglore - Chamrajpet, Head Office - Business

Planning & Development Department, Advances

Department, Commercial Credit Department, New

Delhi-Connaught Circus, Head Office - Credit

Division (Sanctions), Bangalore-S. C. Road, J.

C. Road, Shivajinagar, Kalyan-Murbad Road,

Bangalore-Cantonment, CBB, Ahmedabad-CBB

and Head Office – BE & SSD.

4. Mr. Krishnamurthy Prabhu, Chief Manager, Mumbai-Matunga (greater Mumbai)

Sri Prabhu joined the Bank as a Clerk in May, 1979.

He was promoted to Officer cadre JMG Scale I in

August, 1984. He became MMG Scale II in October,

1998. He was elevated as Senior Manager in Scale

III in December, 2004 and as Chief Manager in SMG

Scale IV in November, 2010.

During 38 years service, he worked at Mumbai-

Service, Zonal Office, Worli, Hirewaddatti, Hubli-

New Cotton Market, Goa - Mapuca, PPB, Bastora,

Ponda, Mumbai-Airoli, Turbe-Vashi, Sector-15

Being good is very difficult. Like a goal keeper – no matter how many goals you save. People remember only the one he has missed.


Vashi, Dahishar (Avadoot Nager),

Bangalore-Mahalakshmi Layout,

Shantinagar and Jayanagar.

5. Mr. Divakar M Shenoy, Assistant general Manager, Head Office – IAD

Sri Shenoy joined the Bank as

a Clerk in June, 1979. He was promoted to Officer in JMG Scale I in July, 1984. He was promoted as Manager in MMG Scale II in July, 1996 and as Senior Manager in Scale III in October, 2001. He became Chief Manager in SMG Scale IV in October, 2008 and Assistant General Manager in Scale V in November, 2012.

During 38 years of service, he worked at Head Office, Mumbai-Worli, Service, Zonal Office, Head Office - Credit Division (Sanctions), Corporate Lending & Ind. Rehab. Department, Udupi –Regional Office, New Delhi - Zonal Office (North), Greater Kailash, Head Office - Priority Sector & Retail Lending Division, Chandigarh - Zonal Office and Raipur.

6. Mr. P Surendra Babu, Senior Manager, Chennai-Retail loan Centre (Chennai Zone)

Sri Babu joined the Bank as a Clerk in August, 1980. He was promoted to JMG Scale I in October, 1985. He became Manager in MMG Scale II in October, 1998 and Senior Manager in Scale III in July, 2014.

During 37 years of service, he worked at Varanasi, Cuddapah, Kolar, Chittoor, Bhopal -J. P. Nagar, Adoni, Beluguppa, Cuttack, Hyderabad-Badi Chowdi, Zonal Office, LIC Hub, Jubilee Hills, Secunderabad-M. G. Road, Warangal-Hanamkonda, Rayadurg, Hyderabad – Retail Loan Centre and Chennai-George Town.

7. Mr. M Sudarsana Rao, Manager, Zonal Office-Hyderabad

Sri Rao Joined the Bank as a

Clerk in October, 1980. He was promoted to JMG Scale I in July, 1988. He became Manager in MMG Scale II in December, 2001.

During 37 years of service, he worked at Mumbai-A. R. Street, Warangal, Bangalore-City, Masulipatnam, Adivinekkalam, Kolkata - Canning Street, Vijayawada-Satyanarayanapuram, Currency Chest, Zonal Office, Kanakatapalem and Vijayawada-Retail Loan Centre.

Mr. Rao was a member of 17th Executive Committee (2007-2010), serving as Regional Secretary of Vijawada Zone for a part of the period.

8. Mr. A Manjunath, Assistant general Manager, Mahipalpur (Delhi South)

Sri Manjunath joined the Bank as a Clerk in December, 1981. He was promoted to JMG Scale I in July, 1988. He was promoted as Manager in MMG Scale II in April, 1997 and as Senior Manager in Scale III in June, 2004. He became Chief Manager in SMG Scale IV in March, 2010 and Assistant General Manager in Scale V in June, 2014.

During 36 years of service, he worked at Chikmagalur, Mumbai-Colaba, Bangalore-Srinagar, Head Office - Planning & Department Division, Personal Banking Division, Mangala, K. G. F. - Robertsonpet, Head Office – CAPS, Mangalore-Kodialbail, Ahmedabad-Gurukul Road, Vadodara - Alkapuri and Bangalore-Arekere Gate.

9. Mr. Harish Kumar M Uchil, Senior Manager (Forex) Mumbai CBB (greater Mumbai)

Sri Uchil joined the Bank as a Clerk in November, 1982. He was promoted to Officer cadre JMG Scale I in May, 1991. He became Manager in MMG Scale II in December, 2001 and Senior Manager in Scale III in July, 2014.

During 35 years of service, he worked at Mumbai-Bandra, C. F. E. D, Ahmedabad-Navarangapur,

Confidence comes with success; Success comes only to those who are confident.


Mumbai-Overseas, A. R. Street, Fort, Investment & International Banking Cell, CBB, Large Corporate Lending, Pune - CBB and Mumbai - Circle Audit Office.

10. Mr. H g Yashvantha Kumar, Chief Manager, Ahmedabad-gandhinagar Sarkhej (Amhedabad Zone)

Sri Kumar joined Bank in June, 1984 as Typist Cum Clerk. He was promoted to JMG Scale I in November, 1997. He was promoted as Manager in MMG Scale II in December, 2004. He became Senior Manager in Scale III in September, 2010 and Chief Manager in SMG Scale IV in June, 2014.

During 33 years of service, he worked at Chikmagalur, L. B. C, New Delhi-Vasanth Vihar, Friends Colony, Head Office - Financial & Risk Management Division, Mumbai - Investment & International Banking Cell, Ajekar, Chitradurga, Bangalore-Banashankari and Girinagar.

11. Mr. Baldev Singh Thakur, Chief Manager, Zonal Office, lucknow

Sri Thakur joined the Bank as Hindi Officer in JMG Scale I in September, 1985. He was promoted as Manager in MMG Scale II in December, 2004. He became Senior Manager in Scale III in September, 2010 and Chief Manager in SMG Scale IV in February, 2016.

During 32 years of service, he worked at Business Planning & Dev. Department, New Delhi-Zonal Office, Kochi-Regional Office, New Delhi-Regional Office, Zonal Office - Chandigarh and Zonal Office-Greater Mumbai.

12. Mr. Allu Maheswara Reddy, Chief Manager, Nizamabad (Hyderabad Zone)

Sri Reddy joined the Bank as Agricultural Field Officer in Scale I in June, 1986. He was promoted as Manager in MMG Scale II in April, 1997. He became Senior

Manager in Scale III in December, 2004 and Chief Manager in SMG Scale IV in February, 2012.

During 31 years of service, he worked at Patibandla, Guntur, Gandepalli, Rajahmundry, Chillargi, Masulipatnam, Eluru, Mumbai-Worli, Retail Loan Centre, Secunderabad-M. G. Road, Hyderabad - Zonal Office, Micro Finance Branch, Mumbai-Mahakali Caves Road and Thane - Zonal Office.

13. Ms. lina Coelho, Assistant Manager, K Y C & A M l Cell, Head Office

Ms. Coelho joined the Bank in January, 1976 as a Typist Cum Clerk. She was promoted as Special Assistant in April, 1986. She was promoted as Officer in JMG Scale I in April, 2015.

During 41 years of service, she worked at Head office, New Delhi-Regional Office, Bhikaji Cama Place, Mapuca, Mumbai-Kandivili, Udupi-Regional Office, Head Office - Premises Purchase & Maintenance Division, Support Services & Br. Expansion Division, Britona, Secorro, Mangalore-Pandeshwar and Mysore-Vontikoppal.

14. Ms. Putcha Devasena, Assistant Manager, Hyderabad-Hyderguda (Hyderabad Zone )

Ms. Devasena joined the Bank as a Clerk in June, 1979. She was promoted as Special Assistant in December, 1995 and as Officer in JMG Scale 1 in February, 1996.

During 38 years of service, she worked at Head Office, Warangal, Hyderabad-Hyderguda, Badi Chowdi, Regional Office, New Delhi-Greater Kailash, Dilshad Garden, Baikaji Cama Place, Hyderabad - Regional Office, CAPS, New Nallakunta, Secunderabad-Tarnaka, Alwal and Medchal.

15. Ms. Shobha N Prabhu, Assistant Manager, Mumbai-Kandivili – East (greater Mumbai)

Ms. Shobha joined the Bank as

Even the least work done for others awakens the power within; it gradually instills into heart, the strength of a lion. – Swami Vivekananda


Clerk in February, 1980. She was a promoted as Special Assistant in May, 1998 and as Officer in JMG Scale I in February, 2003.

During 37 years of service, she worked at Mumbai-Central, Goregoan (West), Amboli Andheri (West), Bandra, Vile Parle, Kandivili and Mumbai-Borivili.

16. Mr. K Vasudeva Pai, Assistant Manager, Zonal Office Mangalore

Sri Pai joined the Bank in March, 1980 as a Typist Cum Clerk. He was promoted to Officer cadre in JMG Scale I in February, 2003.

During 37 years of service, he worked at Mumbai- C. F. E. D, Mulky, Mangalore-Bunder, Head Office - Advance Department, Commercial Credit Department, G M (Credit & Recovery) Sect., Credit Division (Sanctions), Inspection & Audit Division, Mumbai-Malad Orlem, Kandivili (East), Muloor, Baikampady and Mangalore-Pandeswar.

17. Mr. Balakrishna V Kamath, Manager, Shirva (Udupi Zone)

Sri Kamath joined the Bank as a Clerk in April, 1980. He was promoted as Officer in JMG Scale I in August, 2002 and as Manager in MMG Scale II in July, 2014.

During 37 years of service, he worked at Head Office, Harihar, Head Office - Human Resources Department, Recoveries Department, Mangalore-Pandeshwar, Car Street, Padavu, Gulbarga, Kuthethoor, (MRPL), Mangalore-Kankanady, Bangalore - Malleswaram and Arekere Gate.

18. Mr. Srinivas S Karagudri, Assistant Manager, Hubli – Currency Chest (Hubli Zone)

Sri Karagudri joined the Bank as a Clerk in November, 1981. He was promoted as Special Assistant in July, 1999 and as Officer in JMG Scale I in October, 2004.

During 36 years of service, he worked at

Ranibennur, Dharwad, Hubli-Currency Chest, Gadag, Krishna, Murgod, Belgaum-Karnataka Law Society, Jamkhandi, Hubli-Navanagar and Zonal Office.

19. Mr. Ramjilal Bairwa, Manager, Jaipur-Currency Chest (Jaipur Zone)

Sri Brirwa joined the Bank as a Clerk in February,

1982. He was promoted to Officer cadre JMG Scale

I in February, 1998. He became Manager in MMG

Scale II in November, 2005.

During 35 years of service, he

worked at Jaipur, Jodhpur,

Jaipur-Transport Nagar, Alwar,

Cambay, Jaipur – Currency

Chest, Zonal Office and Ratlam.

20. Mr. Rama, Assistant Manager, Udupi-APC, (Udupi Zone)

Sri Rama joined Bank as a Clerk in August, 1982.

He was promoted as Special Assistant in May, 1988

and as Officer cadre in JMG Scale I in March, 2000.

During 35 years of service, he worked at Mumbai-

Worli, Pernal, Shirva, Sakleshpur, Mumbai-

Chembur, Kadandale, Alangar, Padmanoor,

Belman, Katapady and Udupi.

21. Mr. R Siddalingaswamy, Assistant Manager, Valnoor (Mysore Zone)

Sri Siddalingaswamy joined the Bank as a Clerk

in December, 1983. He was promoted as Officer in

JMG Scale I in September, 2012.

During 34 years of service, he

worked at Kakkabbe, Kushala

Nagar, Hullahalli, Mysore-Main

and Currency Chest.

22. Mr. Maheshwarappa H, Manager, Shimoga-Savalanga Raod (Zonal Office Udupi)

Character has to be established through a thousand stumbles. - Swami Vivekananda


Sri Maheswarappa joined the Bank as a Clerk in

August, 1984. He was promoted to Officer cadre

in JMG Scale I in December, 1996. He became

Manager in MMG Scale II in December, 2004.

During 33 years of service, he worked at Bhadravathi-B. H. Road, Shimoga, Udri, Chitradurga, Mumbai-Fort, Bangalore-Core Centre, Yashwanthpur Market, Chikkabanawara, N L S I University and Chennai-CBB.

23. Mr. Balakrishna Nayak N, Manager, Mysore-Vontikoppal (Mysore Zone)

Sri Nayak joined the Bank as a Clerk in August, 1984. He was promoted to JMG Scale I in February, 2003. He became Manager in MMG Scale II in August, 2012.

During 33 years of service, he worked at Cheekanahalli, Bangalore-Shantinagar, Mandya, Sarathi, Bangalore- Sahakarnagar, Chamrajpet and Financial Management Div. HO.

24. Mr. Yarram Kanthaiah, Manager, Sattenapalli (Vijayawada Zone)

Sri Kanthaiah joined the Bank as a Clerk in April, 1987. He was promoted to JMG Scale I in April, 2008. He became Manager in MMG Scale II in July, 2014.

During 30 years of service, he worked at Visakhapatnam, Guntur – Main, Currency Chest, Vijayawada-Currency Chest, Tirupur, Kavali and Patibandla.

25. Mr. Bhaskaran K K, Assistant Manager, Ernakulam-Ravipuram (Kochi Zone)

Sri Bhaskaran joined the Bank in April 1986 as a Peon. He was promoted as Clerk in October, 1992 and to Officer cadre in JMG Scale I in September, 2014.

During 31 years of service, he worked at Ernakulam, Mangalore-Staff Training College, Kochi, Earnakulam-Ravipuram, Service, Poothotta

and Vallarpadam.

B. VolUNTARY RETIRMENT

The following members retired from the Bank voluntarily, under Regulation 29 of Pension Regulations during May, 2017:

1. Mr. H Prakash Krishnan, Assistant Manager, Tripunithura (Kochi Zone)

Sri Krishnan joined the Bank as a Clerk in November, 1981. He was promoted as Officer in JMG Scale I in February, 1996.

During 36 years of service, he worked at Pallimukku, Thiruvananthapuram, Varkala, Head Office - Information Technology Division, Kochi - Regional Office, Thiruvananthapuram and Mangalore-Staff Training College.

2. Mr. A Ayyan Raj, Manager, Zonal Office Coimbatore

Sri Raj joined the Bank as a Clerk in December, 1983. He was promoted to Officer cadre in JMG Scale I in February, 2003. He became Manager in MMG Scale II in July, 2014.

During 34 years of service, he worked at Erode, Pollachi, Coimbatore- Main, Velandipalayam, Chennai-Service, Tambaram Sanatorium, LIC Hub, Tirupur, Coimbatore-Sathy Road and Peria Valavadi.

3. Mr. Anantha Ramu N, Assistant Manager, Bangalore-BTM layout (Bangalore South)

Sri Ramu joined the Bank as a Clerk in May, 1984. He was promoted to Officer cadre in JMG Scale I in October, 1994.

During 33 years of service, he worked at Chikmagalur, Puttur, Cheekanahalli, New Delhi-Bhikaji Camp Place, Noida-S M E, Udupi, Hassan, Kandali, Bangalore-White Field, Malleswaram and Head Office - Organisation & Methods Department.

Honour lies in honest toil. –Grover Cleveland


4. Mr. Venkata Naga Mohan Yerramilli, Assistant

General Manager, Mumbai-CBB (Zonal Office

greater Mumbai)

Sri Yerramilli joined the Bank as an Officer in JMG

Scale I in December, 1984. He was promoted as

Manager in MMG Scale II in November, 1997. He

became Senior Manager in Scale III in June, 2004.

He was elevated as Chief Manager in SMG Scale IV

in March, 2010 and as Assistant General Manager

in Scale V in January, 2015.

During 33 years of service he worked at

Bangalore-Regional Office, Shivajinagar, Guntur

– Main, Regional Office, Cuttack, Regional Office-

Tamilnadu I, Regional Office - Andhra II, Zonal

Office-Vijayawada, Mumbai -I I BD, Zonal Office-

Bangalore South and Mumbai - Treasury.

5. Ms. N Jothimani, Assistant Manager,

Coimbatore-R. S. Puram (Coimbatore Zone)

Ms. Jothimani joined the Bank in November, 1985

as a Typist Cum Clerk. She was promoted to Officer

cadre in JMG Scale I in September, 2012.

During 32 years of service she worked at Coimbatore

– Velandipalayam, Main, RLC and R S Puram.

CBOO thanks all these members for their

support and co-operation and wishes them a

happy, healthy and contended retired life.

SPlIT IN IT EMPloYEES FoRUM

The forum for IT Employees (FITE) which was formed to fight for the rights of IT employees, has split with some of its core members joining a political outfit, says a press release issued by the forum on its website. The release quoted the forum’s president Vasumathi as saying that those who had joined the political outfit wanted to make the forum a part of the outfit. The forum had held talks to resolve the issue amicably to no avail. It had also explained to the political outfit that its future would be harmed, if it became as a wing of the party.

misCellaNy

Errors, like straws, upon the surface flow;He who would search for pearls must dive below. – Leo Tolstoy

FITE was launched on December 29, 2014 when Tata consultancy services (TCS) terminated the employment of thousands of people. FITE must remain as an independent organization. “Parimala (then president) was adamant on running FITE under CPML People liberation party, which is not apt for our cause and also for the organization,” said the release. “Since they remained focused on their agenda, Parimala, Balaji, Bharathidasan, Sathish, Deepan and Iniyavan were removed from the organization in February. They currently do not hold any position or membership in FITE. Despite repeated warnings, they continue to misuse the FITE banners and claim to represent FITE in the media the release said.


Techies well taken care of, no need for union: Balakrishnan

Employees’ union are not needed in information technology industry where work ethic is good and the staff are well-paid with techies even finding opportunities outside the company they work for, says a senior industry figure. Whenever there is a downturn, there is always noise about unions coming into play in the IT industry but in never sustained, ex-Chief V Balakrishnan financial officer of Infosys Ltd, V Balakrishnan told PTI. “Work ethic is very good and salaries are high. Even today the attrition rate in the IT industry is double digit. It (talk of employees’ unions) always fizzles out after some point of time. It never sustained,” he told PTI.

“But I think even if there is a union, I don’t it will impact the industry much because IT industry is one of the best paymasters in the country and second, the people find opportunities outside”, he said. Following reports of layoffs and fears about further retrenchment in the slow-down hit IT industry, there had been some talk in recent times about forming a union. “IT industry is not bad, IT industry people are well taken care of, well-paid, and they find opportunities. Even one of the bad years, this year, where growth rate has come down, the attrition is still double digit. “So, I don’t find a need for union in this industry. “Even if there is


a union, I don’t think it will impact the industry much because people are well taken care of in this industry,” said the former Board member of Infosys.


Centre looks at three options for disinvestment of loss-making AI

The Government is looking at three options for Air India disinvestment, including holding up to 49% in the national carrier, even as it is almost certain to take over a large part of the debt burden to make the airline more attractive for buyers. Sources said while there has been a recommendation to completely exit the perpetually loss making airline, another possible route to follow is the Maruti model where the government handed over majority control to Suzuki, for which it received a premium. Later the government reduced its stake further through a public issue. A chunk of government shares were also sold to Indian banks and financial institutions through a bidding process, which was more like warehousing them before being offloaded in the markets. Several global airlines, where governments have exited, have offered large chunks of the holdings to the public. The Air India divestment has gathered momentum in recent weeks with NITI Aayog recommending up to 100% stake sale, along with writing off debt. Finance minister Arin Jaitley too has backed the idea and he has held at least one round of consultations with civil aviation minister A Gajapathi Raju, with sources indicating that the entire process will be speeded up. The sources added that various options are being looked into and a final decision will be taken by the Union cabinet.


Work-Home Balance is Tougher for Men

Men aren’t supposed to say it, but they might be feeling the pressure of work and home more than women. The stress of being a working mother is well-chronicled, but that of a working husband and father is brushed under the carpet as a politically incorrect subject. In America, men suffering work-family conflicts jumped from 35% to 60% in the three decades from 1977 to 2008. Yet, men are always characterised as part of the problem of gender inequality, says an article in 1843 Magazine.

Today’s changing society allows women to take on the traditional roles of men, and expects men to share the traditional responsibilities of women, but this is where men have it harder. Being manly means displaying power, while femininity is associated with softness and subservience. Between the two, the premium is on masculinity, so women have an incentive to become “pushy“ or “bitchy“ for greater financial rewards, but for men to “adopt the jobs and behaviours associated with women," means a “loss of status with fewer perks and more social sanctions, especially from other men.”

Consider little children. Girls are now taught they can be whatever they want to be, and it’s okay if things don’t work out. Parents are delighted when their girls want to play cricket or football, but they are shocked and appalled when a boy wants to dress in a skirt and blouse. Boys have to constantly prove their masculinity to each other. It’s not alright to lose. Boys, and later men, have to operate within a very narrow space. “When boys stray from this script, they typically get bullied or abused. Their status as men is at once so valuable and so precarious that it must be won over and over again.” The workplace becomes an adult version of the playground. “Many professional workplaces involve a constant negotiation among men to establish a pecking order,” the article quotes Joan Williams, a feminist legal scholar. You have to work late if the other men are working late. Talking about family issues is unfashionable and sure to relegate you to a lesser role.

That’s a problem for a father who is expected to share parenting duties. If a child is sick, the mother will directly ask for leave and get it, but “men take the benefit only when it is clearly meant for men and other fathers are using it too... Basically, when mothers pull back from work for child-care reasons, they may earn less money but they are still seen as good women. When fathers do the same, they are often seen as lesser men.” Sharing the responsibilities of earning and home would do men a lot of good. Studies show that men who are breadwinners are under more stress than double income couples and this takes a toll on their health, but employers’ expectations make balanced roles for spouses difficult.“Many fathers feel obliged to

No man can serve two masters. – St. Mathew


live up to their bosses’ demands in part because breadwinning, and being a good provider more generally, is still often seen as a fundamental feature of fatherhood.”


only Rs 5000 cr Declared Under PMgKY

The much-publicised Pradhan Mantri Garib Kalyan Yojana (PMGKY), India’s second block money disclosure programme announced during the demoentisation, garnered only Rs 5000 crore in declarations. “This response has not been so good. It is about Rs 5000 crore of income declared in PMGKY,” revenue secretary Hasmukh Adhia said, citing two reasons for the muted response. “First, even before the scheme was announced, people had tried to put their cash into different accounts. The second (reason) was the rate,” Adhia said at a press conference in New Delhi on Thursday.


Aadhaar Data gets New Security guards

The Centre has put in new safeguards following a number of cases of Aadhaar data leaks on government websites. All ministries are being asked to encrypt all Aadhaar data and personal financial details. Also, officials are being “sensitised” about legal consequences of data breach. And every government department is to now have one official

responsible for Aadhaar data protection. The ministry of electronics and information technology has written to all departments on better data security. ET has reviewed the new guidelines. Aadhaar, a 12-digit unique identity number issued on the basis of biometric data, is linked to a person’s bank account and used by government agencies to directly transfer benefits of several social welfare schemes. Senior officials, who spoke off record, told ET that all departments have been asked to immediately review their website content to check if personal data is on display.

A set of 27 dos and 9 don’ts has been circulated on data handling. This includes instructions on masking Aadhaar data and bank details as well as encrypting data. The government has mandated regular audits to check safety of personal data. The ministry letter says, “It has come to notice there have been instances wherein personal identity or information of residents, along with Aadhaar numbers and demographic information, and other sensitive personal data such as bank details etc collected by ministries/departments, state departments for the administration of welfare schemes etc… have been published online.” The letter also spells out legal consequences of such data breach and warns the government departments to check future leaks.


WHIlE THE TECHIES RAISE THE RED FlAg

Gopal Sundarajan, a 38-year-old techie, was leading a good life. The mechanical engineer had passed out of Vellore Institute of Technology with distinction and then landed a job in Tech Mahindra. In nine years, he moved up the ranks to become Senior Applications Engineer, managing prestigious clients like British Telecom. He drew an annual salary of Rs 50 lakh, drove a premium hatchback and lived in his own 2BHK semi-premium villa in Bengaluru. Life was relatively smooth sailing.

That was till April 21. In the morning “an HR executive called me for a meeting,” he says. As he entered the room there were two people, dressed in sharp formal attire, waiting for him. “The air was tense but I initially thought that they were here to inform me about their inability to add more staff to my project,” Sundarajan recounts. The lady first spoke. “Your role is no longer suitable and you will have to put in your papers,” she said coldly. Sundarajan was taken by surprise. While his first reaction was calm, he asked both of them whether he is being laid off. “They did not answer me directly,” he says. The lady was doing majority of the talking, and said his skills (in software such as Unix, database management, Java etc.) were not relevant for the company. The person next to her maintained a stern look throughout the meeting. “It was intimidation: resign or we will sack you,” he says.

Work or foe, left unfinished, flare up so, like fire unextinguished - Thirukkural


Sundarajan is not alone. Pallabi Dasgupta (names of employees have been changed as requested), another employee in India’s $155-billion IT sector, was the first software engineer in her family. “I was put on the bench for five months. Every week, I would go to ask my project manager whether I could work on projects. He would turn me back every time, despite my good ratings (for previous projects),” she says. Soon enough, Dasgupta was asked to resign earlier this year.

Sundarajan and Pallabi are among the several thousands of employees who have been terminated from the Indian IT sector in last one year. While there is no reliable number on how many have got the payslip till now, according to McKinsey, 2 lakh ITengineers will lose jobs annually in the next three years. The job losses, and the increasing fear that more is in store, comes at time when changes in the technological landscape and macro economic factors have put the brakes on growth rates of most of the IT companies. Apart from HCL Technologies, other companies like TCS, Infosys, Cognizant and Wipro have not met analysts’ growth expectations.

The angst of what employees call “unfair dismissal” is starting to find a sound board — a union or association. Both, Sundarajan and Pallabi have approached Forum of IT Employees (FITE) to air their grievance. The FITE, with 2,000 members from about 50 IT and ITeS companies including Accenture, Cognizant Technology Solution, HCL, BM, Infosys, Tata Consultancy Services and Wipro, claims to be the biggest association in the sector. Others like All India IT Employees Association (AIITEA), National Democratic Labour Front (NDLF) are also championing the cause of aggrieved employees in the sector.

The genesis

Chennai was always considered a safe haven for the information technology industry. A conservative society meant that companies located here reported one of the lowest attrition rates in the sector. However, this ‘conservative’ reputation has taken a turn. The FITE, which is based in Chennai, is in the process of becoming India’s first trade union in the IT sector. Its agenda is simple — to protect interests of thousands of employees facing the lay-off threat. Formation of an IT union could possibly rattle the industry that has 4 million employees and managed to keep off any kind of union activities.

The first murmur of a union in the IT sector started in 2007, around the time when signs of sub-prime crisis started to emerge in the US. At that time, the BPO sector, which speeded India’s ascent as a software giant was laying off employees in droves. R Karthik Shekhar, a former IBM employee started Union for Information Technology Enabled Services (UNITES), as part of Union Network International, a Switzerland-based group created to organise white-collar workers around the world. While the cause was noble, it did not take off and UNITES no longer exists.

In recent months, the momentum to form a union picked up with threats of mass lay off in many companies, including Cognizant Technology Solutions, Infosys and Wipro, over non-performance issues. It hasn’t helped that some of the employees, especially those in the middle-level management, might find themselves out-of-sync with emerging technologies such as automation, cloud and software as a service. But in the name of non-performance, these employees are being sent out, said an employee of Cognizant. Another employee from Wipro said that employees on the bench were asked to leave without being given the stipulated notice period time of two months. The two employees requested anonymity.

The movement for a union got a boost when in 2015, Sasirekha Natarajan got her termination by TCS revoked by the Madras High Court. This was followed in June 2016, by the Tamil Nadu Government stating that IT employees can unionise, and that employers come under the Industrial Disputes Act (IDA). The clarification came in the context when some of the info-tech companies, including L&T Infotech, withdrew offer letters from new recruits. Along with the FITE, labour groups such as Puthiya Jananayaga Thozilalar Munnani (New Democratic Labour Front) took up employees’ cases and campaigned for unionisation of

Laugh away troubles; there is no other way to conquer woes. - Thirukkural


‘white-collar’ workers in this sector. The provisions of IDA provide immunity for factory workers, classified as ‘workmen’.

As of now, people working in the IT sector are not classified as workmen. “Duties that require imaginative and creative mind cannot be termed as either manual, skilled, unskilled or clerical in nature,” according to a judgement delivered by former Delhi High Court Justice Madan Lokur in 2004. The Labour Front clarified that the IT industry is not exempt from the provisions of the Industrial Disputes Act, 1947 and that affected employees can approach labour conciliation officers to redress their problems regarding retrenchment, termination or any other grievance.

In the last week of May, the FITE rallied around “laid-off” employees, signed petitions and has approached labour ministers from Tamil Nadu, Telangana, Maharashtra and Karnataka. “These are illegal terminations,” says Vasumathi, the FITE Vice-President. He terms the lay-off illegal because notice period was not given to employees. He also alleged harassment from the HR and misconduct of reporting managers.Others add that management of companies haven’t given a roadmap to employees, who have been axed suddenly.

Other associations have joined the fray. Syed Muqeemuddin, an IT employee runs the AIITEA. It looks at a range of employee-related issues — such as denial of relieving letters, workplace harassment and denial of severance pay. “Majority of the cases can be resolved if the employees know their rights. The management never helps them and this is where a watchdog is needed,” says Muqeemuddin. Clifton D Rosario, State General Secretary, All India Central Council of Trade Union (AICCTU) said that the bigger issue is around the fact there is a need to re-look labour laws in the software services sector.

These developments have found backing amongst some of the industry titans. Infosys co-founder NR Narayana Murthy has come in support of the IT employees saying that it is not fair to send someone home. “I have no doubt that the leaders are well-intentioned people and can find solutions,” he told a television channel. Emails sent by Business Line to companies regarding their employee redressal issues did not elicit a response.

Uncertain future

Industry watchers believe that a union can hamper the industry growth and that there are adequate checks and balances to tackle any issue. Former Infosys CFO, V Balakrishnan believes that these (union) talks always fizzles out after some point of time. “It has never sustained,” he told a news agency. Others see this slowdown in the sector as a passing phase, like before. “The dotcom bust happened, later there was a financial crisis, but the industry continued to grow,” says Manish Tandon, CEO, CSS. According to NASSCOM, the sector grew by 8.6 per cent year-on-year.

Others also point out that the current scenario emerges every time the industry goes through these kinds of shifts due to changing technologies and macro economic conditions. With technologies such as AI and machine learning becoming popular, fewer people are needed. Vamsi Krishna, co-founder of online teacher aggregator Vedantu, opines that automation has been on the horizon and is now increasingly used by companies. Market watchers like Kris Lakshmikanth, CEO, Head Hunters India believe that because of changing technology, the most affected will be the professionals aged 35 and above. “It would be very difficult for them to get jobs,” he says. An official in a leading IT company in Chennai even claimed that there is a well structured HR system in place in all major IT companies with a good redressal system. “Companies have always been harsh on non-performers who face the axe. However, the only major issue this time is that the number is large,” he said.

Karnataka IT Minister Priyank Kharge told Business Line that the Government will be open to look into the state’s IT laws. But “Nobody comes forward, yeh log kuch nahin karte,” he says, referring to IT

When you have faults, have the courage to accept them. – Anonymous

employees. Though a Centre subject, the State can rewrite laws or include provisions specific to the IT industry. Employees are also confused. “While I need to fight for my rights, I am worried that joining union could hamper my prospects of getting a job with another company. I will be branded as trouble maker,” said a 38-year-old employee at Cognizant. He didn’t want to be named.

At the same time, many think they can get back to the job market by updating their skills. This optimism is part of the reason why not all techies are convinced about the need for a union. And majority of them fear getting blacklisted by the IT companies. Also, employees are ignorant about their basic rights as they are weary about lengthy court proceedings. “A lot of the cases we get are related to unfair terminations,” says Muqeemuddin.

There is also the issue of employee associations not being totally united. Recently FITE had to evict some members. “We are not here to disrupt business but find a solution together such as phased lay-off and fair metrics for their performance measurement,” says Kathir, the Bengaluru coordinator for FITE. Efforts such as distributing pamphlets, asking people to come together have not met with much success. Meanwhile, Dasgupta and Sundarajan are tweaking their resumes and figuring out their next course of action. “I don’t know how the future will turn out; but will not give up the fight,” says Sundarajan.


CirCular rOuNd up

1. Interest Rate on PRTBL – Clarification(Credit Policy & Planning Section, HO Circular No.

281/2017 dated 16.05.2017)

The circular contains the clarifications issued

regarding the PRTBL in respect of interest

chargeable.

2. Aadhar Seeding while opening New Accounts(CASA Division, HO Circular No. 283/2017 dated

16.05.2017)

Branches shall invariably obtain Aadhar number while

opening new accounts. In case customers are not having

Aadhar number/not willing to disclose the same, an

undertaking to be obtained from the customer and be

kept with the account opening form. All such accounts

without Aadhar number shall be assigned to Branch

Manager’s work list for authorisation.

3. obtention of PAN Number or Form No 60 for the existing accounts (Financial Management Division, HO Circular No.

284/2017 dated 17.05.2017)

All the existing accounts which are not having PAN

number/Form number 60 must be seeded with

PAN number or Revised Format of Form Number 60

by 30.06.2017.

4. MoU on Service Charges with the New India Assurance Co. ltd.(Bancassurance Division, HO Circular No. 285/2017 dated

18.05.2017)

Bank has renewed MOU with The New India

Assurance Co. Ltd. Branches shall collect Service

Charges as per MOU entered with M/s The New

India Assurance Co. Ltd.

5. Preservation of Applications Forms of PMJJBY and PMSBY through updated application form only.

(Bancassurance Division, HO Circular No 286/2017 dated

19.05.2017)

Operational guidelines issued for Preservation of

Application Form under Pradhan Mantri Jeevan

Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri

Suraksha Bima Yojana (PMSBY) Schemes and fresh

enrolment of PMJJBY & PMSBY through updated

application forms only.

6. Framework on Revitalising of Distressed Assets in the Economy – Timelines for Stressed Assets Resolution. (Credit Policy & Planning Section, HO Circular No.

287/2017 dated 20.05.2017)

Decisions agreed upon by a minimum of 60% of

Creditors by value and 50% of Creditors by number

in the JLF would be considered as the basis for



deciding the CAP and the same will be binding

on all lenders subject to the exit (by substitution)

option available in the Framework. The stand of

the participating Banks while voting on the final proposal before the JLF shall be unambiguous and unconditional and Banks shall implement JLF decision without any additional conditionality.

7. legal Decisions Affecting Bankers – once Document is Registered, it is not open to any Authority to Cancel Registration. (Legal Services Division, HO Circular No. 290/2017 dated

22.05.2017)

There is no express provision in the Registration Act, 1908, which empowers the Registrar to recall the registration. Once document is registered, it is not open to any authority to cancel registration.

8. Regarding acceptance of laminated title documents as security (Legal Services Division, HO Circular No. 292/2017 dated

22.05.2017)

Branches shall avoid accepting laminated title documents of securities for creation of mortgage, as it is very difficult to ascertain genuineness of the documents.

9. Water Conservation Campaign – Participation of Bank Officials.(Priority Sector Division, HO, Circular No. 293/2017 dated

23.05.2017)

Branches to associate with the campaign by extending necessary credit support to eligible farmers for water conservation and water use efficiency.

10. Implementation of Second Phase in Forex Hub consisting of 5 modules. (Treasury & Investment Department, HO Circular No.

294/2017 dated 23.05.2017)

The second phase of Forex modules is implemented in the DMS application and the Forex Hub will now handle transactions in the new modules (5) also in addition to the existing six modules.

11. Enrolment of Staff members for Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) & Pradhan Mantri Suraksha Bima Yojana (PMSBY). (Bancassurance Division, HO Circular No. 295/2017 dated 23.05.2017)

• PMJJBY offers Insurance cover of Rs. 2.00 lakh

at an annual premium of Rs. 330.00 for death due to any reason.

• PMSBY offers insurance of Rs. 2.00 lakh for death or disability on account of an accident for a premium of Rs. 12.00. per year.

• The premium charged for these schemes is low when compared to other Insurance policies.

• All staff members to be enrolled for both the insurance cover by debiting the premium to their SB account.

12. Recording of PPo number in the Passbook of the Pensioner/Family Pensioner. (Government Business Division, HO Circular No. 296/17

dated 23.05.2017)

All pension disbursing branches are requested to record PPO number in the passbook of the Pensioner/Family Pensioner, issued by the Branches without fail.

13. Introduction of Monsoon offer – 2017 [Mo-2017](Retail Lending Division, HO Circular No. 299/2017 dated

24.05.2017)

Monsoon Offer – 2017 [MO-2017] promotional campaign for Retail Corp Scheme loans has been introduced for a period of 4 months from 01.06.2017 to 30.09.2017. Concession in Rate of Interest and Processing Charges is available in select Schemes for fresh loans initially disbursed on or after 01.06.2017.

14. The External Due Diligence Agencies (DDA) whose Services have been Discontinued.(Retail Lending Division, HO Circular No. 300/2017 dated

25.05.2017)

Details of external due diligence agencies (DDA) whose services have been discontinued are furnished in the circular as Annexure. Branches/Offices/RLCs should not entrust due diligence work to these agencies.

15. Irregularities observed by RBI Inspecting Officials at AFI of the Bank – Credit Related Issues. (Credit Policy & Planning Section, Credit Division, HO,

Circular No. 301/2017 dated 26.05.2017)

Branches/Offices to strictly adhere to the guidelines/

From what we get, we make a living; what we give, makes a life. – Arthur Ash


procedures and ensure that the discrepancies pointed out by RBI Inspecting Officials in the AFI of the Bank do not recur.

16. Introduction of New Housing loan Variant – Pradhan Mantri Awas Yojana for Middle Income group (PMAY-ClSS for MIg). (Retail Lending Division, HO, Circular No. 308/2017 dated

01.06.2017)

Under PMAY-CLSS for Middle Income Group – I (MIG-I) and Middle Income Group – II (MIG-II), beneficiaries seeking housing loans from Banks will be eligible for upfront Interest Subsidy of 4% on NPV basis on an amount of Rs. 9.00 lakh/ Rs. 12.00 lakh, respectively, for a tenure of 20 years or during the tenure of the loan whichever is earlier.

17. Sharing of Critical and Confidential information of Bank through Social Media. (HRM& PAD HO Circular No. 313/2017 dated 02.06.2017)

In the absence of prior approval from Competent Authority, sharing of critical/ sensitive/confidential information through social media is strictly prohibited as per the Bank’s information Security Policy.

18. Monitoring End Use of the Funds lent by the Bank. (Credit Monitoring Division, HO Circular No. 318/2017

dated 05.06.2017).

Ensuring utilisation of Funds lent by the Bank for the approved/intended purpose is one of the cardinal principles of lending, Credit Discipline and Risk Mitigation. Deficiency in monitoring end use of funds lent by the Bank may lead to diversion/siphoning off which could ultimately affect the health of the Credit Portfolio.

19. Campaign for Premier Savings Bank accounts. (CASA Division, HO Circular No. 319/2017 dated

06.06.2017)

SB Premier league: Season-2” campaign has been launched for the period from 15th June, 2017 to 31st July, 2017 to canvass new SB Accounts of HNI and salaried employees. Staff of all Branches/Offices is eligible to participate in the campaign.

20. Migration to New CBS – Correction of the

Repayment Schedule in Education and Housing

loans.

(Retail Lending Division, HO Circular No. 321/2017 dated

07.06.2017)

In case of existing Education and Housing Loans,

the repayment schedule is to be verified and

corrected by the Branches before migration to new

CBNS (FINACLE). Information Technology Division

has furnished the detailed guidelines with respect

to such corrections and the same are reproduced

in the circular.

21. Importance of Pre-Sanction and Post-

Sanction Visits and Due Diligence.

(Retail Lending Division, HO Circular No. 324/2017 dated

08.06.2017)

Branches are advised to scrupulously follow the

extant guidelines in respect of Pre-Sanction and

Post-Sanction visits and Due Diligence. Extant

guidelines on release of Housing Loans shall also

be strictly followed.

22. legal Decisions Affecting Bankers – lok

Adalat is not a Court – Consent of both the

parties to Compromise petition is mandatory.

(Legal Services Division, HO Circular No. 326/2017 dated

12.06.2017)

Lok Adalat is not a Court. Consent of both the

parties evidenced by their signature to compromise

petition is condition precedent for any Lawful order

to be passed by Lok Adalat.

23. goods and Services Tax (gST).

(Financial Management Division, HO Circular No.

327/2017 dated 12.06.2017)

With effect from 01.07.2017, the GST replaces the

various taxes levied by the Government of India

and all the State Governments like Excise Duty,

Service Tax, VAT, Sales Tax, Central Sales Tax,

Luxury Tax and Entertainment Tax, etc. GST is a

consumption based tax that is collected on sale of

Goods/providing of Services by the Bank.

Discipline is no destination to reach. It’s a method of life. – Anonymous


24. legal Decisions Affecting Bankers – legal

Recognition to transgender Person as Third gender. (Legal Services, HO Circular No. 329/2017 dated

13.06.2017)

Transgender persons are legally recognised as third gender. Transgender person has a right to participate in selection process initiated by the Bank as a third gender. Transgender cannot be discriminated on the basis of Sex. Transgender persons are legally recognised as third gender.

25. Deduction of Income Tax from Salary at Source for the Financial Year 2017-2018. (HRM& PAD, HO Circular No. 330/2017 dated 13.06.2017)

Guidelines regarding Deduction of Income Tax at source from the salary of employees of the Bank, the Tax rates/slabs and other details regarding the same are furnished in the circular.

26. Credit Enhancement guarantee Scheme for Scheduled Castes [CEgSSC] – Promotion of the Scheme. (MSME Division, HO Circular No 331/2017 dated

13.06.2017)

Detailed guidelines for Effective implementation of Credit Enhancement Guarantee Scheme for Schedules Castes [CEGSSC] are furnished.

27. legal Decisions Affecting Bankers – District Magistrate u/s 14 of SARFAESI Act, has no power to adjudicate disputes. (Legal Services Division, HO Circular No 334/2017 dated

14.06.2017)

District Magistrate has no powers under section 14 of the SARFAESI Act to go into the merits of the case. District Magistrate has to simply verify whether the contents in the affidavit tendered by the Bank are in accordance of the provisions of section14 (1) (a) of SARFAESI Act.

28. Framework for Revitalising Distressed Assets in the Economy – Representation at the JlF Meetings. (Credit Policy & Planning Section, Credit Division, HO

Circular No. 336/2017 dated 14.06.2017)

Branches shall attend the JLF meeting along with

the Zonal Head concerned. In case the Zonal Head is not in a position to attend the meeting, the same shall be attended by the Deputy Zonal Head (second line at ZO) after obtaining permission from the Sanctioning Authority/Head Office.

29. Rights of Transgender Persons – Change in Bank Forms/Applications. (Organisation & Methods Division, HO Circular No.

337/2017 dated 15.06.2017)

Banks have been directed by RBI to include third gender in all forms/ applications etc., prescribed by the RBI or Banks themselves wherein any gender classification is envisaged. At the place of salutation, the word Mr/Ms be replaced with Mr/Ms/Mx.

30. Collection of Application/Counselling/Exam Fees for full time/part time Diploma & ITI Courses conducted by DKDF. (CAPS, HO Circular No: 340/2017 dated 15.06.2017)

Collection of fee by Cash – E- Challan-Entry shall be done through CMS menu (I- Link /CMSTM FINACLE). Detailed guidelines for entry of application received and collection of the fees paid by students towards the Delhi Knowledge Development Foundation are furnished in the circular.

There is no fate that cannot be surmounted and defeated by courage. - Anonymous

HUMIlITY

If I can stop one heart from breaking,

I shall not live in vain.

If I can ease one life aching or cool one pain,

Or help one fainting robin to his nest again,

I shall not live in vain.

- Emily Dickinson

ATTITUDE

When it rains, all birds fly for shelter.

But eagle avoids rain by flying above clouds.

Problems are common to all;

But the attitude makes the difference


health watCh

Cancer Surgeon Dr Ramakant Deshpande answers the most crucial questions on the disease. And offers very important advice on ensuring yourself a healthy, everyday life.

How can a young persons work to keep themselves cancer-free?

Youngsters always want to know, at their age, the kind of preventive measures they should be taking. or the kind of regular testing they should do. or the symptoms they should look out for. If they have strange symptoms, should they go straight to their gP? or not waste time and go straight to a cancer hospital?

The incidence of malignancy is not extremely high. But it creates a lot of fear (or anxiety) psychosis. Because of the kind of suffering cancer can cause, in a neglected status particularly. That’s why the fear. But the incidence is not extremely high in India. It is about 350 totally for 100,000 people. That’s 11.5 lakh (1.15 million) people (have cancer) for a population of 130 crores (1.3 billion). Those are the new malignancy figures.

It is not an extremely high incidence. The US (for instance) has about four times as much of an incidence of all cancers, for example. Healthy living is an important thing. There are certain known carcinogens, like alcohol, tobacco in any form, stress to some extent, lack of exercise, obesity, hormones and pollution.

Hormones? Not birth control pills?

Women like to push their menses by taking hormones. Birth control pills have no connection. Doing this randomly, in excess kind of thing, is not really advisable.

Alcohol?

Excess alcohol consumption is known to cause irritation of the gastric mucosa and bowels and all that. And it compounds the incidence of malignancy.

CANCER IS NoT INCURABlE - 2

for example, if smoking 10 cigarettes actually increases lung cancer incidence by may be about 10 times, if you combine alcohol with smoking, it can go to 40 times; plus oesophagal cancer, stomach cancer. These are known to be associated with alcoholics - but for an excess of alcohol; not an occasional beer or glass of wine. That’s okay.

The general public has a perception that many things around them in their environment can cause cancer. All kinds of dire warnings float about on WhatsApp and get forwarded. There are certain obvious things that cause cancer, like second-hand smoke. Yes, it is very bad.

But what about, for instance, the pesticide that Mumbai’s municipal corporation comes around spraying to reduce mosquitoes?

Some of those like DDT is definitely a known carcinogen; totally stopped now.

Mosquito coil? You have one right there.

No, that is not really proven to be.

Radiation from mobile phones? Mobile towers?

Mobile phones are feared because they can actually cause increased incidence in benign tumours - eighth nerve thickening. Some minor increase in the incidence has been noted. But nobody has said it can cause cancer. That proof is not available yet.

Too early?

It’s too early. The technology has just come in 10 to 15 years ago.

Bottles, plastic dabbas, nail polish, bras and airport scanner?

Bras and all is false. It is all a concept (theoretical). Saying that it can generate benzene and all that. Nobody has real proof for that. For example, people say if you get into a car early in the morning which it is still hot, it will emit benzene. This is all a concept

From another’s evil qualities, a wise man corrects his own. – Pubililious Syrus


(theoretical). Nobody has really proved; this is it. So many people did this. Increased incidence of cancer happened... it has not been proven.

lifestyle is a far bigger danger?

Yes, lifestyle is a far bigger danger; apart from that, atmospheric pollution, burning of all those things into the atmosphere.

if you live in a city like Mumbai, it is equivalent to smoking 20 cigarettes anyway. Then why do you want to smoke another 20 cigarettes?

Tobacco, in any form, particularly smoking, is an invitation to a disaster. Not only cancer, but it causes several respiratory disorders, increase incidence of cardiac disease, shutdown of various organs, starting from brain, kidney, lungs, even vascular problems in the leg.

Bladder?

Yes, all of this is directly related to the tobacco effects. It is very rare to find a person who doesn’t have the side effects of tobacco -- if someone smokes, like for 20 to 30 years, you are definitely going to have pay a price. It is said that every stick of tobacco that you smoke will reduce your life by 10 to 14 minutes. You can imagine how many days it will take away from your life.

What can one do personally about air pollution? How can one protect oneself personally?

Air pollution -- because of vehicular smoke, industrial pollution, burning -- is a public health kind of an exercise. Remember recently what happened about the Deonar fire (early last year the garbage dump in north Mumbai had two extensive fires, lasting days). This leads not only to cancer, but primarily to respiratory disorders which go on to promoting respiratory infections. And over a period of time adds to the incidence of cancer. Atmospheric pollution is an acknowledged pre-carcinogenic kind of a factor by WHO.

What can you personally do?

1. Don’t contribute to it.

2. Join a movement which actually brings it down.

3. If you find there is too much (pollution in your air), there are filters available that a person can use.

In Shanghai, when the pollution was very high, people were seen using those paper masks, which are special masks that filter off the suspended particles in the air. Those people who are on the roads for their functioning, like the police, should ideally use those. The authorities keep identifying the level of pollution. TV normally does mention the number of pollutants in the air and if it is within acceptable limits or non-acceptable limits.

Do air-conditioners help?

Yes, AC does help. But obviously you can’t air-condition a whole city. An AC has its own problems. If you are careless about cleaning the filter, you can actually be breathing in bacteria. You have to be careful about the maintenance of that.

Are home air filters, which are less expensive, useful?

Yes, they do contribute to the lowering of the pollution.

one should not exercise in high-pollution areas?

That is important.

Why is stress a factor?

Stress also generates a lot of hormones in the body.

What is your definition of stress exactly?

Getting worried about things all the time.

Anxiety?

Yes, anxiety all the time.

Is it good to prefer organic food, fruit and vegetables, which is now coming more and more in the market, food grown without pesticides?

Yes. That is a definite yes. Many of these pesticides are also known to cause tumours. They are pollutants. So, ideally speaking - yes. Surprisingly, the organic foods are more expensive. To maintain organic quality in food, you have to stick to a lot of criteria; but if it becomes more and more common, probably the prices will come down.

What about water? Should one just boil and filter? Can water be a source of cancer?

Boiling and filtering is a good way of doing it. But

You cannot get blood out of a stone. – Proverb


there are several dissolved kind of chemicals which could be harmful. In the Gangetic belts you have a lot of pollutants in the water. There are cyanides in the water. That water you can’t just boil and filter. It needs to be processed. You need to have processed, good water. Then you boil, filter and then drink it.

one should then be very aware of the quality of water in your area?

Very, very important. Particularly in a big city like Bombay, many times because of the proximity, the sewage and water lines mix. You find it all the times in the newspapers that in the water the content of bacteria and pollutants is very high. That is not acceptable.

For even a well-educated person -- who knows about cancer -- often navigating our Indian medical system is very daunting because of the way it’s structured. Because of the expenses involved. Because you don’t know where to begin. Because you are worried you will get in the hands of the wrong doctor and will told to get this scan or that done or put onto the wrong medical regimen. You might have certain strange symptoms. You go to the gP and nothing happens. You are a little bit uncertain how to go forward.

You can’t really navigate your life by Google. Google will throw information at you. You can’t understand how to interpret it. It is nice to read. Be guided by someone who is knowledgeable. For example: Your GP would be a good person to guide you in a (general situation) and identify the system which probably affected or is bothering you. But a GP may not have (that) much domain knowledge to treat you completely.

Where do you start?

If for more than a month, or a month-and-a-half, you have the same complaint/ unusual symptom which is not going. Our body functions in a particular system. We pass urine. We pass motions. We swallow food. We drink water. We breathe properly. If there is an obstruction to any of these things -- difficulty swallowing, difficulty passing urine, passing blood in the urine, passing blood in the stools or severe pain anywhere, lasting for more

than a month, (you are taking medicines for pain relief, but it keeps on coming back again and again) or for example the skin, which covers our body, has a few moles that start increasing or bleeding. then you need to see a specialist. These are not normal things. Many times they can still not represent a malignancy, but it means your body is telling you. ‘Look there is some problem. Please have a look at me.’ You need to go to a doctor. Find out what is happening to you.

Where do you go?

Identify the system. For example, if you have difficulty in swallowing it is gastroenterology. Talk to your family physician. He may say: ‘Okay, there is hyperacidity. I will give you acidity tablets.’ Initially it may even become alright. Then again it might start coming back in two or three weeks. That is the time to see a specialist in gastroenterology.

What if the specialist doesn’t detect it is cancer? one knows so many people who have cancers lingering for years that don’t get diagnosed.

He would do an endoscopy. He would be actually able to diagnose that.

So one should not come straight to a cancer hospital and find the right cancer specialist, given that the system specialist also might have missed it?

It is not very common for that to happen. Not very common.

So don’t let them make a beeline to cancer centres? Should one not change specialists if one doesn’t have faith?

One month with a general practitioner. One month with a specialist. If after that, you are not alright, then you need to go to a cancer specialist.

Any crucial points on knowing if you are in the hands of a good doctor?

A good doctor is someone who listens to you first. That is number one. Not someone who is so busy he doesn’t have time to listen to your complaint. And analyses it, discusses with you what exactly your problem is, and is able to convince you about the diagnosis and draw out a logical proposal to

Laws are like cobwebs that entangle the weak; but are broken by the strong. – Solon

Officers’ Voice, July 2017 39Officers’ Voice, July 2017 39

diagnose and treat it. Ninety-nine per cent patients are intelligent enough, whether they are literate or not, to understand whether the person who is sitting in front of them, as a doctor, is able to convince them properly or not.

Don’t be convinced by very simplistic answers. The treatment has to (take care) of that particular symptom and it should not repeat. Don’t get into the hands of quacks, who are confidence tricksters, who promise the world and absolutely magical results kind of thing. If any kind of health symptom persists, even after one month, you need to see a proper doctor. This is very very important. A doctor asking for a test is not a disadvantage. The doctor will need to have additional information before he can summarise the situation, start treating. But to have complete, comprehensive information about your condition is your ethical right. Don’t forgo it. If

you are not comfortable with a doctor, then change your doctor.

What about awareness in India about cancer? You did mention about how people don’t realise it is incurable.

There is awareness on one side; fear on the other. Fear far outweighs awareness. Sometimes, to such an extent, that people don’t want to know it is cancer. That keeps them away from the doctors, which is terrible. It is really sad. You really feel bad for the patient. The patient has symptoms. He has not come out of sheer fear. You see women who have a mass in the breast. They would have some kind of idea that a mass in the breast could be breast cancer. Or something like that since it is becoming bigger and bigger. They say it was not painful, so I didn’t really go to a doctor. This is how it works.

Watch out For

C Change in bowel or bladder habits

A A Sore that does not heel

U Unusual bleeding or discharge

T Thickening or lump in the breast, testicles or elsewhere

I Indigestion or difficulty in swallowing

O Obvious change in a wart or mole

N Nagging cough or hoarseness- American Cancer Society

Preventing Breast Cancer

1. Don’t drink too much; Don’t have more than one drink per day.

2. Don’t smoke; Strong connection between smoking and breast cancer – especially, in premenopausal women. Not smoking is the best health move ever.

3. Don’t gain excess weight. Obesity increases risk of breast cancer, especially if one gains weight at a later age.

4. Exercise: Exercise can protect you from breast cancer. At least 150 minutes per week of reasonable aerobic exercise.

5. Breast – feeding: Protection from breast feeding is directly proportional to the duration of breast feeding

6. Avoid Hormone Therapy: Continuous durations or high doses of hormone therapy increases chances of breast cancer.

- Rediff.com

Procrastination is the thief of time. – edward Young


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